SMALL BUSINESS STANDARD OPERATING PROCEDURES
Bookkeeping, Recordkeeping & Tax Compliance Guide Prepared by MAS LLC Tax Advisory & Small Business Services Updated 2026 Introduction Maintaining accurate, timely financial records is critical for tax compliance, business decision-making, and audit preparedness. This guide outlines the essential tasks every small business owner should complete on a weekly, monthly, quarterly, and annual basis. Following […]
Read MoreVirginia’s Proposed Net Investment Income Tax
An Analysis of House Bill 378 and Its Implications for High-Income Taxpayers By Jessica I. Marschall, CPA, ISA AM January 2026 Introduction View Post Virginia House Bill 378, introduced on January 12, 2026, by Delegate Elizabeth Bennett-Parker (D-5), represents a significant departure from the Commonwealth’s historical approach to taxing investment income. If enacted, the legislation […]
Read MoreSEP-IRA Contribution Limits for 2025 and 2026:
What Business Owners and Self-Employed Individuals Need to Know By Jessica I. Marschall, CPA, ISA AM ~ January 20th, 2025 Simplified Employee Pension Individual Retirement Accounts (SEP-IRAs) remain one of the most powerful retirement savings tools available to small business owners and self-employed individuals. With higher contribution limits than traditional IRAs and relatively simple administration, […]
Read MoreThe Complete Guide to Forming a 501(c)(3) Nonprofit Organization
With the Tax-Free Income Comes Strict Compliance Jessica I. Marschall, CPA, ISA AM President & CEO MAS LLC January 10th, 2026 Introduction The allure of tax-exempt status draws many charitable-minded individuals and organizations toward forming a 501(c)(3) nonprofit. The benefits are substantial: exemption from federal income tax, eligibility to receive tax-deductible charitable contributions, and access […]
Read MoreNavigating the New “No Tax on Car Loan Interest” Deduction
By Jessica Irving Marschall, CPA, ISA AMPresident & CEO, Marschall Accounting Services LLC January 9th, 2026 The enactment of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, introduced significant changes to the federal tax code. Among the most widely discussed provisions is the new deduction for interest paid on certain vehicle loans, […]
Read MoreThe Qualified Business Income Deduction: Navigating Income Phase-Outs Through Strategic Wage and Asset Planning
Jessica I. Marschall, CPA, ISA AM January 2026 Executive Summary The Qualified Business Income (QBI) deduction under Internal Revenue Code Section 199A represents one of the most significant tax benefits available to owners of pass-through entities. Originally enacted as part of the Tax Cuts and Jobs Act (TCJA) in December 2017, this provision was designed […]
Read MoreThe Affordability Crisis: How Today’s 20-Somethings Face an Unprecedented Financial Landscape
By Jessica I. Marschall, CPA, President MAS LLCNovember 4, 2025 This article is born from countless conversations with clients across generations—from baby boomers who bought their first homes at 28 to millennials still renting at 38. There is a disconnect that needs addressing: older generations often don’t realize how profoundly the economic landscape has changed, […]
Read MoreEntering Tax Season 2025: What Clients and Businesses Must Know
By Jessica I. Marschall, CPA, ISA AM November 12th, 2025 1. A Strained IRS May Affect Your Filing Experience Recent analysis at Marschall Tax underscores a deepening operational crisis within the IRS: workforce reductions, technology backlogs, and funding shortfalls have created a “perfect storm” of risk for both business and individual filers. IRS Workforce Furloughs […]
Read MoreUnderstanding Deductible Business Expenses for Schedule C Filers
Jessica I. Marschall, CPA, ISA AM October 24th, 2025 Introduction Many clients request a concise yet reliable reference outlining which business expenses are deductible when filing Schedule C (Form 1040). This form is used by sole proprietors, single-member LLCs, and other Disregarded Entities to report income and expenses from their trade or business activities. Under […]
Read MoreOpportunity Zones 2.0: The Complete Guide to Enhanced Benefits Under the One Big Beautiful Bill Act
Jessica I. Marschall, CPA October 4th, 2025 How permanent status, rural incentives, and rolling deferrals reshape the QOZ landscape Executive Summary The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, fundamentally transforms the Qualified Opportunity Zone (QOZ) program. No longer facing a 2026 sunset, the program now offers permanent tax […]
Read More
