September 2014 – INFINITE PARTNERSHIPS

Sep 26

Death Gift Estate Tax For Beginners

By Chris Moss CPA Tax Attorney in Death Tax, Estate Tax, Gift Tax

Welcome to TaxView, with Chris Moss CPA Death tax is a fact of life, or death, as the case may be, and death taxes have been taxing estates for thousands of years. Euphemistically referred to as “estate tax”, the tax is assessed when assets are transferred to your beneficiaries on that special day of your …

death tax, estate tax, gift tax

Sep 21

Temporary vs Permanent Tax Deductions

By Chris Moss CPA Tax Attorney in Permanent Tax Deductions, Permanent Tax Savings, Temporary Tax Savings, Timing of Tax Deductions

Thanks for joining us on TaxView with Chris Moss CPA Have any of you purchased a vehicle in late December to receive that coveted tax deduction that year? If you answered yes, you were able to receive “temporary tax deduction.” (TTD) That is to say you accelerated a tax deduction into the current tax year …

permanent differences, permanent tax deductions, permanent tax savings, temporary tax deductions, temporary tax savings, temporary vs permanent tax deductions, timing differences

Sep 14

IRS Doomsday Levy

By Chris Moss CPA Tax Attorney in IRS Doomsday Levy, IRS Levy, Levy

Welcome to TaxView with Chris Moss CPA Just the thought of a “levy” gives me the absolute feeling of impending doom. However, an IRS levy adds additional and painfully real fear of immediate economic loss to any law abiding American taxpayer. What is an IRS levy? According to the IRS website a levy is a …

IRS Doomsday Levy, IRS Levy, Levy

Sep 13

Substitute Tax Return

By Chris Moss CPA Tax Attorney in Substitute Return, Substitute Tax Return

Welcome to TaxView with Chris Moss CPA What is a substitute tax return? No your identity has not been stolen and a false return filed by the perpetrator. In fact, a substitute tax return is what the Government has the authority to file for you when you don’t file your tax return on time. Yes, …

substitute income tax return, substitute return, substitute tax return

Sep 09

Section 1031 Reverse Tax Free Exchange

By Chris Moss CPA Tax Attorney in Reverse Exchange, Section 1031 Reverse Tax Free Exchange

Welcome to TaxView with Chris Moss CPA What is a reverse 1031? No it is not a football game plan. Commonly known as a reverse exchange or a reverse Section 1031 tax free exchange, this very trendy tax savings variation on the traditional Starker exchange has roared back to life. If you read my article …

exchange, reverse, Reverse Exchange, Section 1031 Reverse Tax Free Exchange

Sep 03

Portfolio vs Passive Loss Rules

By Chris Moss CPA Tax Attorney in passive losses, Portfolio Income, Section 369 Passive Losses, Tax Planning

Welcome to TaxView with Chris Moss CPA If you have investment gains to offset business losses this year, you may be in store for a direct head on collision with the IRS and the Tax Reform Act of 1986. The journey to disaster starts off innocently enough. You sell some stocks for a $10M gain …

Offset, passive losses, portfolio income, Tax Reform Act 1986

Sep 01

Unreimbursed Volunteer Expense

By Chris Moss CPA Tax Attorney in Charity Deductions, Unreimbursed Charity Expense, Unreimbursed Volunteer Expense

Thanks for joining Chris Moss CPA on TaxView Do you volunteer for a nonprofit organization which is exempt from paying income tax? For example, have you driven for Meals On Wheels, or perhaps you have dropped off some household goods to the local Salvation Army, hosted a student in your home, or headed up an …

charity deduction, expense, unreimbursed, unreimbursed volunteer expense, volunteer

September 2014 archive