November 2015 archive

IRS Marijuana Tax Audit

Chris Moss CPA Tax Attorney

Welcome to TaxView with Chris Moss CPA Tax Attorney There are 23 States and the District of Columbia that have legalized Marijuana for medicinal use, with Colorado, Washington, Oregon and Alaska allowing legal recreational use as well.  Previous articles on Marijuana Income Tax Law and IRS or State Law for Medical Marijuana need updating due to IRS Marijuana Tax …

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IRS Lease to Buy Audit

Chris Moss CPA Tax Attorney

Welcome to TaxView with Chris Moss CPA Tax Attorney For any of you out there who have converted a commercial lease to a purchase your accountant has likely capitalized the cost to terminate the lease increasing your basis in the property buy out.  Most likely your business income tax return was also prepared based on …

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IRS Mortgage Interest Audit

Chris Moss CPA Tax Attorney

Welcome to TaxView with Chris Moss CPA Tax Attorney Just about all of us at one point or another have deducted mortgage interest as an itemized deduction allowed under IRS Code Section 163 on Schedule A of your Form 1040 tax return. IRS Publication 936 and IRS Regulations 1.163 allow a married couple or single …

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IRS Capital Gains to Ordinary Income Audit

Chris Moss CPA Tax Attorney

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IRS Legal Fees Audit

Chris Moss CPA Tax Attorney

Welcome to TaxView with Chris Moss CPA Tax Attorney If any of you have incurred legal fees in 2015 perhaps you should consider a Legal Fees Tax Deduction?  You are entitled to deduct civil or even criminal legal fees under Section 162(a) paid to an attorney in connection with your business. You can also deduct …

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IRS Bad Debt Audit

Chris Moss CPA Tax Attorney

Welcome to TaxView with Chris Moss CPA Tax Attorney How many of you all have ever loaned money or property through your business and have not been paid back?  Have you ever loaned money or property to a friend and have not been paid back? Did you all know you can deduct either on your …

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Preachers of the Gospel Parsonage Exclusion

Chris Moss CPA Tax Attorney

IRS Clergy Parsonage Allowance Exclusion Welcome to TaxView with Chris Moss CPA Tax Attorney The Clergy Tax Free Parsonage Allowance Exclusion under IRS Section 107(1) and 107(2) which has provided tax free rental exclusions to the preachers of the Gospel for almost 100 years has been saved by the 7th Circuit Court of Appeals in …

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Offshore Tax Evasion

Chris Moss CPA Tax Attorney

Welcome to TaxView with Chris Moss CPA Tax Attorney Many large public businesses have their corporate operations legally headquartered offshore.  For example Apple, General Electric, Pfizer, IBM, and Merck have offshore operations legally sheltering billions of dollars from US income taxation.   However, if any of you individuals or small business owners out there are ever …

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