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Investors: Beware of the wash sale rule

October 3rd, 2017|Categories: Burns Firm|

A tried-and-true tax-saving strategy for investors is to sell assets at a loss to offset gains that have been realized during the year. So if you’ve cashed in some big [...]

Income Taxes and Selling a Home

September 28th, 2017|Categories: Burns Firm|

Information from IRS.gov If you own your home, you may qualify to exclude from their income all or part of any gain from the sale of their main home. To [...]

Focus on Your Profit Center

September 7th, 2017|Categories: Burns Firm|

It can be a hard choice to make, but successful companies often have to make strategic decisions to "fix it or exit." In other words, every element of a business [...]

Moving Expenses May Be Deductible

September 5th, 2017|Categories: Burns Firm|

Information from IRS.gov If you are moving you may be able to deduct certain expenses of moving to a new home because you started or changed job locations. Home means [...]

Asset vs Stock Sale of Business

August 29th, 2017|Categories: Burns Firm|

Another important question to address when negotiating a sale is whether the deal should be structured as an asset or stock sale. Asset sales. The buyer gets to cherry-pick the [...]

Yes, you can undo a Roth IRA conversion

August 24th, 2017|Categories: Burns Firm|

Converting a traditional IRA to a Roth IRA can provide tax-free growth and the ability to withdraw funds tax-free in retirement. But what if you convert a traditional IRA — [...]

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