Jul 10
Submitted by Chris Moss CPA If you read my last article on the Completed Contract Method of Income Tax Deferral we concluded that Shea v IRS was a big win for the developers. Unfortunately the IRS has come back with a vengeance in June of 2014 with a big win in Howard Hughes v IRS. …
Jul 06
Submitted by Chris Moss CPA Many real estate developers use the Completed Contract Method (CCM) of income recognition as they develop large tracts of land into buildable lots and ultimately residential housing around the nation. This special method of revenue recognition is allowed for small developers earning less than $10 million who anticipate a 2 …
Jun 12
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 …