The $2 Trillion Gamble
How Gutting the IRS and Killing Direct File May Cost Taxpayers Far More Than It Saves January 2026 | Tax Policy Analysis, Jessica I. Marschall, CPA, President MAS LLC In less than one year, the Trump administration has eliminated 25% of the IRS workforce (over 25,000 employees) while simultaneously canceling Direct File, a free tax-filing […]
Read More2025 Year-End Tax Strategy
Critical Deadlines and One Big Beautiful Bill Act Integration Jessica I. Marschall, CPA, ISA AM | December 31, 2025 Executive Summary The final day of the calendar year represents a critical juncture for federal tax compliance and optimization. Following the enactment of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, as Public […]
Read MoreNo Tax on Overtime, Tips, and Social Security? Decoding the OBBBA’s Actual Deductions and Senior Benefits
By Jessica I. Marschall, CPA, President MAS LLC December 31st, 2025 The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, has generated significant buzz around its “no tax on tips” and “no tax on overtime” provisions. However, as tax professionals, we need to look beyond the headlines to understand what […]
Read MoreMaximizing Tax Benefits: A Comprehensive Guide to C Corporation Employee Benefit Programs
Jessica Irving Marschall, CPA President and CEO, MAS LLC December 14th, 2025 Executive Summary C corporations occupy a unique position in the American business landscape, offering substantial tax advantages through employee benefit programs that are simply unavailable to pass-through entities such as S corporations, partnerships, and limited liability companies. The 2017 Tax Cuts and Jobs […]
Read MorePartnership Classification Switching and Self-Employment Tax
Jessica I. Marschall, CPA, ISA AM December 5th, 2025 Partnership tax treatment requires clear classification of partner roles. The Internal Revenue Code distinguishes between general partners and limited partners, with significant consequences for self-employment tax liability and loss deduction eligibility. Taxpayers attempting to shift classifications based on immediate tax benefits create audit risk and potential […]
Read MorePass-Through Entity Tax Elections: Federal and State Tax Coordination Under Current Law
By Jessica I. Marschall, CPA, December 6th, 2025 Pass-Through Entity Tax (PTET) elections remain one of the most significant state tax planning mechanisms available to partnerships and S corporations following changes to federal itemized deduction limitations. Understanding how PTET operates at both the entity and individual level is essential for tax planning, particularly for high-income […]
Read MoreFrom Tax Code to Deconstruction Sites: Building Solutions to America’s Housing Crisis
By Jessica I. Marschall, CPA, ISA AMNovember 23, 2025 Finding Hope in the Intersection of Tax Policy and Climate Action After 26 years navigating the labyrinthine corridors of federal tax policy and six years elbow-deep in deconstructed buildings across America, I have discovered something remarkable: the same 76,000 pages of tax code (including tax memos, […]
Read MoreOpportunity Zones 2.0: A New Era of Community Investment Under the One Big Beautiful Bill Act
By Jessica Irving Marschall, CPAPresident, MAS LLC November 21st, 2025 Introduction The landscape of place-based economic development changed dramatically with the passage of the One Big Beautiful Bill Act (OBBBA or OB3), which fundamentally transformed the Opportunity Zones program from a temporary experiment into a permanent fixture of American tax policy. For tax professionals, […]
Read MoreThe Mortgage Interest Deduction Is Not a Strategy: Understanding Schedule A Before Taking on More Debt
By Jessica I. Marschall, CPAPresident & CEO, MAS LLC November 17th, 2025 Many taxpayers are encouraged by lenders, realtors, and even well-meaning friends to take on extremely high mortgage principal balances because the interest is “deductible.” This advice ignores how Schedule A actually works, the statutory limits on deductible mortgage interest, and the reality that […]
Read MoreVIRGINIA’S ENERGY TRANSFORMATION: TAX, WORKFORCE, AND INFRASTRUCTURE IMPLICATIONS FOR REGIONAL BUSINESS GROWTH
Strategic Insights for MAS LLC Tax Advisory and GM-ESG Clients Jessica I. Marschall, CPA, President and CEO MAS LLC, The Green Mission Inc., GM-ESG and Probity Appraisal Group Virginia stands at the epicenter of a generational energy transformation driven by unprecedented data center expansion, artificial intelligence infrastructure demands, and evolving utility capacity constraints. The November […]
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