Welcome to TaxView with Chris Moss CPA. Back in the 60s if you wanted to “gamble” you went to Las Vegas. Then Atlantic City opened up shop in the 70s as did many State Lottery games. After President Reagan signed the Indian Gaming Regulatory Act (IGRA) you even had more choices in the 80s. More …
December 2014 archive
Dec 20
Uncertain Tax Positions vs Attorney Client Privilege
Welcome to TaxView with Chris Moss CPA. Uncertain Tax Positions (UTPs) are upon us this 2014 Christmas season and they are coming your way. What are UTPs? A UTP is a deduction or a “tax position” on your tax return that has a 50% chance or more of being disallowed by the Government during an …
Dec 18
Single Member LLC
Welcome to TaxView with Chris Moss CPA If you are thinking about starting a small business, why not start with a Single Member LLC.? The most important reason to form a Single Member LLC or “Single” is simplicity. As a Single you file no separate tax return apart from your personal tax return Form 1040. …
Dec 15
Self-Employment Tax
Welcome to TaxView with Chris Moss CPA Are you self-employed? Do you ever wonder how much of your earnings is subject to self-employment tax? (SET) If you are self-employed you should be paying the correct amount of social security but not be overpaying. Employees are subject to payroll withholding and W2 year-end reporting as per …
Dec 09
Retirement Loan Rollover Tax Traps
Welcome to TaxView with Chris Moss CPA How many of you have had an IRA or 401K indirect or even a direct retirement rollover that triggered a tax and penalty from the IRS? Have any of you borrowed from retirement to pay it back within 60 days only to get a bill from the IRS?–even …
Dec 03
Step Transaction Tax Planning
Welcome to TaxView with Chris Moss CPA Whatever your legacy is after you’re gone, whether the legacy is yours or belongs to your grandfather, I would hope that you want your kids and grandchildren to share in some way that legacy you or your mother or grandmother is leaving you all. But many of you …