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 …
Apr 01
TAX REFORM ACT OF 2014 Submitted by Chris Moss CPA You may have heard, Dave Camp(R-MI) Chairman House Ways and Means has come up with the Tax Reform Act of 2014, a massive rewrite of the US Tax Code of 1986. I just finished reading the 194 page Discussion Draft and this is truly a …
Mar 01
Submitted by Chris Moss CPA Many of you have purchased products via the internet, either through Amazon.com or some other retailer. Sometimes you are charged sales tax and sometimes you are not. Have you wondered about the law that governs collection of tax on internet sales in the 21st century? The 2014 Tax Trend is …
Dec 02
Cost Segregation is a tax savings strategy that in my view defies logic. The underlying theory supporting Cost Segregation is at best a stretch of the truth, and at worst, an outright deception. Yet the US Tax Court decided in a 116 page July 27, 1997 opinion that Cost Segregation is legal. For those who …
Nov 01
Have you been concerned over the rising national debt, now over $16 trillion? Sadly, our children are not as well off as we were. In fact, it appears the 20th century may be on its way to be the Golden Age of American democracy and economic strength. Many politicians say we must cut spending to …
Oct 01
“Restructure Analysis” comes into play during routine individual income tax planning throughout the year. It could involve review of a specific tax position or may include review of multiple tax positions involving interrelated returns over a period of many years. The goal of Restructure Analysis is to rebuild or restructure a tax position to legally …
Sep 01
After almost 100 years US income tax collection has evolved into a complex set of laws that very few of us understand. How did this happen? Generally speaking the United States had no permanent income tax until the early 20th century. Collection of the tax was a simple matter and so was the tax law. In those days …
May 02
IRS Audits are easy to survive. Ok, before you all shoot me, I want to prevent you from being shot. Let’s go over a few basics about the need for good books and records you prepare prior to filing a tax return so you can wear a bulletproof vest and see for yourself how easy …
Apr 17
As another Tax Day April 17, 2012 rolls by I am always amazed at how complex the United States Tax Code has become. And yes, the Presidential candidates still talk about tax reform in 2012, but can you really take tax reform in 2012 seriously? Some of you may remember the historic Reagan 1986 tax reform …
Nov 07
Jenny Sanford’s thoughtful Ed/Op points out correctly that our tax code is complex. But while the complexity of the tax code can and should be reformed, that is a mere distraction from a true fact that no one seems to want to talk about: Wars and entitlements are very expensive and we have too …
Mar 19
Every year around tax time, I hear a few successful and intelligent taxpayers come explain to me that income tax is illegal. When I ask them how this is possible, I am told that the 16th Amendment was never properly ratified. It turns out these taxpayers had attended some seminar or read some book that …