Oct 31
Welcome to TaxView with Chris Moss CPA Cost Segregation of Structural Components is a tax savings strategy that in my view defies logic, yet nevertheless is a brilliant absolutely legal way to save taxes. What is Cost Segregation of Structural Components you ask? In essence, Cost Segregation separates out costs in a building into structural …
Oct 24
Welcome to TaxView with Chris Moss CPA Have you ever loaned money to someone who didn’t pay you back? Did you know that if you can’t get your money back you could at least write the debt off for taxes? It’s called a “Nonbusiness Bad Debt” (NBD) and it is deductible as a short term …
Oct 18
Submitted by Chris Moss CPA Welcome to TaxView with Chris Moss CPA You all remember when Credit Suisse plead guilty to helping “clients deceive U.S. tax authorities by concealing assets in illegal, undeclared bank accounts, in a conspiracy that spanned decades..” —and nobody going to jail? According to news reports back then the only penalty …
Oct 12
Welcome to TaxView with Chris Moss CPA Are you an entrepreneur with family business? Have you thought about your children and grandchildren being more involved in your business? Perhaps a Family Limited Liability Company (Family LLC) is just what you need. Properly structured for your unique situation, the Family LLC is a 21st century way …
Oct 03
Welcome to TaxView with Chris Moss CPA There are thousands of American taxpayers who deduct expenses in connection with operating a motor yacht or luxury sailing craft. Indeed, there are legitimate tax write offs in connection with yacht ownership but perhaps there are also equally as many which are not so legitimate. Just about everyone …