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stock of M.E. Moses, Co., Inc. (M.E. Moses), from 1991 or 1992
until around 1994.
Petitioner claimed the following expenses on the Schedule C
of his joint 2001 Federal income tax return:
Car and truck expenses $2,245.40
Depreciation 8,846.98
Legal and professional fees 4,650.00
Office supplies 449.13
Dues and subscriptions 1,162.00
Post office box rental 250.00
Total 17,603.51
Petitioner contends that these expenses consist of the following:
1. Car and truck expenses--driving petitioner did as an
executive of Craft-Barnett and consists of $1,022 for insurance
and $1,223.40 for gas and other expenses.
2. Depreciation--depreciation of office equipment used in
petitioner’s work as an executive of Craft-Barnett in the amount
of $2,086.63 and depreciation of a 2001 Chevrolet pick-up truck
used in conjunction with his work with Craft-Barnett in the
amount of $6,760.35.
3. Legal and professional fees--$3,300 in legal fees
applicable to the “settlement of certain expenses involving
transfer of M.E. Moses Company, Inc. stock in previous years”;
$1,000 in legal and accounting fees paid for “review of business
documents and review and preparation of the petitioners’ tax
return”; and $350 in legal fees paid for the preparation and
filing of a Plea of Abatement brought against petitioner by the
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