Burns Firm

Information courtesy of IRS.gov If you start a business, know about your federal tax obligations. You may need to know not only about income taxes but also about payroll taxes. [...]

Changing jobs? You may be able to deduct some of your job hunting costs. Here are the guidelines: Same Occupation.  Your expenses must be for a job search in your [...]

Information courtesy of the IRS   Special tax benefits apply to members of the U. S. Armed Forces. For example, some types of pay are not taxable. And special rules [...]

Information taken from IRS.gov If you rent a home to others, you usually must report the rental income on your tax return. You may not have to report the income [...]

Investing in mutual funds is an easy way to diversify a portfolio, which is one reason why they’re commonly found in retirement plans such as IRAs and 401(k)s. But if [...]

An employer enjoys several advantages when it classifies a worker as an independent contractor rather than as an employee. For example, it isn’t required to pay payroll taxes, withhold taxes, [...]

Information courtesy of IRS.gov 1. If you have a capital gain on the sale of your home, you may be able to exclude your gain from tax. This rule may apply [...]

Information courtesy of IRS.gov Are you donating your services to charity this summer and will travel as part of the service? If so, some travel expenses may help lower your taxes when you [...]

Information courtesy of IRS.gov   The IRS offers the following tips to avoid tax scams. Thieves don’t stop victimizing unsuspecting taxpayers with their scams after April 15. Identity theft, phone [...]

With the gift and estate tax exemptions currently at $5.34 million, you might think that estate valuations are less important. But even if you believe that your estate’s value is [...]

Getting married this summer? Be aware of the tax issues that come along with marriage. The IRS offers the following reminders. Name change. The names and Social Security numbers on [...]

Exerts from an article by Rachel L. Sheedy on MSN Money If you are thinking about retirement, the following may keep you from it. You're not saving in a retirement [...]

Summer is a common time to put a home on the market. If you’re among those who are following this trend, it’s important to be aware of the tax consequences. [...]

Restricted stock is stock that’s granted subject to a substantial risk of forfeiture. Income recognition is normally deferred until the stock is no longer subject to that risk or you [...]

1. Your expenses must be for the care of one or more qualifying persons. 2. Your expenses for care must be work-related.  Which means you must pay for the care [...]