Aug 25
Welcome to TaxView with Chris Moss CPA Medical marijuana is now legal in at least 23 states and the District of Columbia, and two of those states, Washington and Colorado, have legalized marijuana for recreational use. If you are one of the many taxpayers out there thinking about operating a medical or recreational marijuana retail …
Aug 23
Welcome to TaxView with Chris Moss CPA If you are a minister of the Gospel you most likely have heard of the Parsonage Allowance Exclusion or the tax free housing allowance for clergy under Section 107 of the IRS Code. First enacted in 1921 the Allowance excludes the rental value of a dwelling house furnished …
Aug 12
Welcome to TaxView with Chris Moss CPA If you own multiple businesses you know all too well that start-ups generally lose money the first or second year. But did you know you can deduct these losses against current earnings, lower taxes and increase cash flow all at the same time you phase into rapid growth …
Aug 10
Welcome to TaxView with Chris Moss CPA For those taxpayers who might be in the unfortunate position of owing the US Government a large amount of income tax compounding with interest and penalties daily, an IRS approved “Offer-in-Compromise”(OIC), might be just what you are looking for. If you are thinking “that could never happen to …
Aug 07
Welcome to TaxView with Chris Moss CPA If you own the family business and perhaps your children and grandchildren are working with you as well, I am sure you all once in a while wonder how much your business is worth? Did you know there is someone else who is interested in how much your …
Aug 05
Welcome to TaxView with Chris Moss CPA. Has your tax attorney mentioned that Congress could someday sooner than you might think dramatically reduce the $5 Million gift exemption ($10 Million married) to which President Obama gave his blessing in December of 2012. If you are a baby boomer thinking of retiring with substantial assets, and …
Aug 02
Submitted by Chris Moss CPA It is a fact that in your lifetime you likely will be audited by the IRS examination division as long as you are legally required to file tax returns each year. However, there is a remote possibility that an IRS agent during a routine examination of your tax return might …