CPA (SC DC VA CA); ATTORNEY (DC VA); BA, MS Accounting, JD (Georgetown University) Leukemia Ball Founder...Member American Institute of CPAs, Virginia State Bar, Spousal Lifetime Access Trusts Domestic Asset Protection Trusts SLATS DAPTS Family LLC Holding, Estate Plan American Bar Association, South Carolina Association of CPAs, District of Columbia Bar, United States TAX COURT;.United States SUPREME COURT; IRS Appeals United States Court of Appeals for the 4th Circuit, US Tax Court Appeals, Virginia Supreme Court,.IRS Audit Representation; Entertainment law Tax Planning and Strategy, MDDC Medical Multi-discipline practice tax structure, Bullet Proof Tax Preparation, International and off shore Tax Law, Divorce Tax Law Forensic Analysis, Real Estate tax law including tax strategy for Real Estate Professionals, Annual personal Income Tax Tune Up, Annual business structure analysis, Family Limited Partnerships and gift tax returns and strategy. South Carolina office for H Christopher Moss, CPA, 210 Wingo Way, Suite 303, Mount Pleasant SC 29464..Virginia office for Infinite Partnerships, H Christopher Moss, Attorney, 211 N Union St, Suite 100 Alexandria, Va. 22314
Chris Moss CPA Tax Attorney
Author's posts
Jun 27
Travel IRS Style
Submitted by Chris Moss CPA All taxpayers who own their own business deduct travel and transportation on income tax returns as either a business expense for themselves or as a reimbursement to their employees or subcontractors. However, many honest hardworking business owners are reluctant to deduct the full extent of their travel, transportation, and related …
Jun 22
Debt Forgiveness and Short Sales
Submitted by Chris Moss CPA Only the IRS could tax you after you have lost your home in foreclosure. But that is exactly what used to happen if your lender sold your home at a sheriff’s sale for less than your mortgage and did not come after you for the difference. What a surprise when …
Jun 16
Residence to Rental Conversion
Submitted by Chris Moss CPA Most of us know that $250K of gain is exempt from tax on the sale of your primary residence ($500K if married) if you lived in that house for 2 of the last 5 years. But what if you sell your house at a loss? Tough luck the IRS says. …
Jun 12
10% Tithe Replaces Income Tax
Submitted by Chris Moss CPA Did you all know that the United States never had an income tax until the Civil War? But what you probably don’t know is that England had also been working with income tax hundreds of years earlier. This was no coincidence. Western nations in the 19th century started keeping track …
Jun 01
The Family Limited Liability Company
The Family Limited Liability Company Submitted by Chris Moss CPA Credit Suisse pleads guilty to helping “clients deceive U.S. tax authorities by concealing assets in illegal, undeclared bank accounts, in a conspiracy that spanned decades..” —and no one going to jail? According to news reports the only penalty to Credit Suisse was a $2.5 billion …
May 18
Tax Return Identity Theft
Submitted by Chris Moss CPA Tax return identity theft is on the rise. Criminals illegally obtain your name and Social Security number, create phony W-2s and related forms, and file a bogus tax return before you can file your legitimate return. Many of these crooks are organized criminals who have figured out that it is …
May 04
Offshore Tax Shelters and the Breakdown of America
Submitted by Chris Moss CPA Many of you have been perhaps curious as to why American based Pfizer Inc. is paying $100 billion to buy British rival AstraZeneca. Would you believe to save billions in taxes over many years to come? Yes, Pfizer, Brooklyn born and raised, the 165 year old maker of Lipitor, which …
Apr 01
TAX REFORM ACT OF 2014
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
2014 Taxation of Internet Sales
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 …
Feb 09
Delaware Statutory Trust Section 1031 DSTs
Submitted by Chris Moss CPA In my past blog in December 2013 I briefly discussed the Delaware Statutory Trust (DST) as a possible investment for 1031 tax free exchange deals but concluded that Tenant in Common (TIC) deals were better for entrepreneurs and small business owners. In this February 2014 blog I am recommending DST …
Jan 01
IRS Hobby Loss Rule
Submitted by Chris Moss CPA Hobby Loss Rule Millions of Americans start new business each year and become Sch C sole proprietors, small partnerships and single member LLCs. Some of these businesses almost immediately start making large profits. But an even larger number of businesses struggle for the first few years to develop market share …
Dec 01
SECTION 1031 TAX FREE EXCHANGE TIC DEALS
Submitted by Chris Moss CPA SECTION 1031 TAX FREE EXCHANGE TIC DEALS My clients have a lot of interest this time of year in tax free exchanges. You can trade tax free just about any “like-kind” property “held for investment” under Code Section 1031 of the IRS code. Let’s take a very simple example: Perhaps …
Nov 01
Off Shore Tax Havens
Submitted by Chris Moss CPA Corporations pay the top tax rate on foreign profits, but not until those profits are brought back to the US from abroad. This exception is known as corporate offshore income deferral. But are US individuals able to achieve this kind of “income deferral”? US citizens and resident aliens all are …
Oct 31
Obamacare
There is a lot that might be wrong with Obamacare, but Obamacare got it spot on with the creation of uniform eligibility requirements and internet registration. So today I am blogging on this one area of Obamacare involving how Americans become eligible to participate in Obamacare programs. Let me first explain with a little background …
Aug 12
It’s not the Tax Code, It’s the Tax
Submitted by Chris Moss CPA Back in 1986 Bob Packwood and Dan Rostenkowski were the tax reform dynamic duo proposing sweeping new tax reform legislation; fast forward over twenty five years to 2013 and we have Max Baucus and Dave Camp proposing sweeping new tax reform legislation. But Tax Reform in of itself has proven …