Business Deductions – The Burns Firm – Advisors of Complex Financial Matters

10 Ideas for Boosting Profits

May 5th, 2026|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, Business Assets, Business Deductions, Business Expense Deductions, Business Losses, Business Valuation, Business Write-offs, C Corporation, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Growing A Business, Partnership, Record Keeping for Business, S Corporation, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm|Tags: business, Business Profit, Company Profit Boost, CPA Dallas, cpa near me, Cut Business Costs, How to Boost Business Profit, How to Grow Your Business Profit, tax, tax advisor, The Burns Firm|

They say little things mean a lot. And relatively small expenses can add up to a huge amount of money your company could be wasting over long periods. By [...]

FAQs About the Research Credit

April 14th, 2026|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, Business Deductions, Business Expense Deductions, CPA, CPA Dallas, CPA near me, Dallas CPA, Deductions, QREs, Qualified Research Expenditure, R&D, Research & Development Credit, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Breaks, Tax Deductions, Texas CPA, The Burns Firm|Tags: business deductions, CPA, cpa near me, Dallas CPA, QREs, Qualified Research Expenditures, R&D, R&D Credit, research credit, tax, tax accountant, tax advisor, The Burns Firm, What Qualifies for the Research Credit|

Companies that engage in research and development activities may qualify for a federal tax credit for some of those expenses. The credit is complicated to calculate, and not all [...]

Are You Eligible for Mileage Deductions?

April 2nd, 2026|Categories: Accountant, accountant near me, Burns Firm, Business Deductions, Business Mileage Rate, Business Vehicle, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Deductions, Mileage Deductions, OBBBA, One Big Beautiful Bill Act, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, tax write-offs, Texas CPA, The Burns Firm, Vehicle Deductions, Vehicle Expenses|Tags: CPA, cpa near me, Dallas CPA, Mileage Deduction Rates, Mileage Deductions, OBBBA, tax, tax advisor, tax deductions, The Burns Firm, Vehicle-related Expenses, What is Eligible for Mileage Deductions|

Whether you’re filing your 2025 individual income tax return or planning for 2026, it’s important to know if you can deduct vehicle-related expenses. A change that was made permanent by [...]

What’s Your Potential Business Vehicle Deduction?

March 12th, 2026|Categories: Accountant, accountant near me, Accounting, Business, Business Deductions, Business Expense Deductions, Business Vehicle, Business Write-offs, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm, Vehicle Deductions|Tags: business expenses, Business Vehicle Deductions, Business Vehicle Expenses, CPA, cpa near me, Dallas CPA, tax, tax accountant, tax advisor, Texas CPA, The Burns Firm, Vehicle Deductions|

If you used one or more vehicles in your business during 2025, you may be eligible for valuable tax deductions on your 2025 income tax return. Businesses can generally [...]

Deducting Business Meal and Entertainment Expenses Today

February 12th, 2026|Categories: Accountant, accountant near me, Burns Firm, Business, Business Deductions, Business Expense Deductions, Business Write-offs, CPA, CPA Dallas, CPA near me, Dallas CPA, Entertainment Deductions, Meals & Entertainment Deductions, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm|Tags: are business meals deductible, Business Meals and Entertainment, CPA, cpa near me, Dallas CPA, Deducting Business Entertainment Costs, Deducting Business Meal Expense, Deducting Business Meals and Entertainment, tax, tax accountant, tax accountant near me, tax advisor, Texas CPA, The Burns Firm|

Do you know the current rules for claiming tax deductions for business meals and entertainment? Whether you're wining and dining a prospective customer or taking an employee to lunch, [...]

Important 2026 Tax Figures for Businesses

January 6th, 2026|Categories: 401K, Accountant, accountant near me, Bonus Depreciation, Burns Firm, Business, Business Deductions, CPA, CPA Dallas, CPA near me, Dallas CPA, Depreciation, Retirement Plan, Roth 401K, Sec. 179, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Breaks, Tax Law Changes, Tax Rules, Texas CPA, The Burns Firm, Traditional IRA|Tags: 401K, accountant near me, Bonus depreciation, CPA, CPA Dallas, cpa near me, Dallas CPA, FSA, HSA, Important Tax Figures for Businesses in 2026, Qualified Retirement Plans, Section 179, tax, tax accountant near me, tax advisor, Texas CPA, The Burns Firm|

A new year brings many new tax-related figures for businesses. Here’s an overview of key figures for 2026. Be aware that exceptions or additional rules or limits may apply. [...]

6 Last-minute Tax Tips for Businesses

December 4th, 2025|Categories: Accountant, accountant near me, Burns Firm, Business, Business Deductions, Business Expense Deductions, CPA, CPA Dallas, CPA near me, Dallas CPA, Retirement, Retirement Plan, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, Tax Planning for Businesses, The Burns Firm, Year-End Tax Planning|Tags: Business Tax Tips, Buy Equipment, CPA, cpa near me, Dallas CPA, IRA, Prepay Expenses, QBI, retirement plan contributions, tax, tax advisor, Tax planning, Tax Tips for Businesses, Texas CPA, The Burns Firm|

Year-round tax planning generally produces the best results, but there are some steps you can still take in December to lower your 2025 taxes. Here are six to consider: [...]

6 Year-End Small Business Tax Savings Tips

November 25th, 2025|Categories: 401K, Accountant, accountant near me, Accounting, Burns Firm, Business, Business Deductions, Business Expense Deductions, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, IRA, QBI, Retirement Plan, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Breaks, Tax Cuts, Tax Planning, tax write-offs, Texas CPA, The Burns Firm, Year-End Tax Planning|Tags: 401K, CPA, cpa near me, Fixed Assets, QBI deduction, Retirement Plan, Small Business Tax, Small Business Tax Saving Tips, tax, tax accountant near me, tax advisor, The Burns Firm|

There's still time for small businesses and their owners to implement strategies to save taxes for 2025. Traditional strategies continue to be valuable, but the One Big Beautiful Bill Act [...]

Reimburse Employees the Tax-Smart Way

October 7th, 2025|Categories: Accountant, Burns Firm, Business Deductions, Business Expense Deductions, Business Write-offs, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Employee, Employee Benefits, Expenses, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, Reimbursing Employee Expenses, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm|Tags: Business Travel Reimbursement for 2026, CPA, cpa near me, Dallas CPA, Employee Reimbursement, OBBBA, Reimbursing Client Meals, Reimbursing Employee Meals, Reimbursing Employee Travel, Reimbursing Employees, tax, tax advisor, Tax-Smart Employee Reimbursement, Texas CPA, The Burns Firm|

In many types of businesses, it's common for employees to spend money on behalf of the company — such as for travel, client meals or supplies. How those expenses [...]

Small Business Tax Planning Tips

September 9th, 2025|Categories: Accountant, accountant near me, Burns Firm, Business, Business Deductions, Business Expense Deductions, Business Losses, Business Write-offs, Clean Vehicle Tax Credits, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, New for 2025, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, QBI, Services, Small Business, Tax, tax accountant, Tax Advisor, Tax Breaks, Tax Credits, Tax Deductions, Tax Depreciation, Tax Law, Tax Law Changes, Tax Planning, Texas CPA, The Burns Firm|Tags: 179 Expensing Election, Bonus Depreciation Deduction, business deductions, cpa near me, Dallas CPA, OBBBA, QBI deduction, small business, small business tax planning, tax, tax advisor, Tax planning, Texas CPA, The Burns Firm|

The One Big Beautiful Bill Act (OBBBA), which became law on July 4, 2025, includes many favorable changes that will help small businesses and their owners. But it's not [...]

Claiming Bad Debt Loss Deductions

April 17th, 2025|Categories: Accountant, Burns Firm, Business Deductions, Business Losses, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Debt, Deductions, Tax, tax accountant, Tax Advisor, tax write-offs, Texas CPA, The Burns Firm|Tags: Bad Debt Loss Deductions on Your Tax Return, Business Bad Debt Loss Deductions, cpa near me, Dallas CPA, tax, tax accountant, tax advisor, Texas CPA, The Burns Firm|

The issue of individual taxpayers deducting bad debt losses has historically been a source of tension with the IRS. Here's what you need to know to get the best [...]

Excess Business Loss

March 11th, 2025|Categories: Burns Firm, Business, Business Deductions, Business Losses, C Corporation, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, NOL, Partnership, S Corporation, Tax, tax accountant, tax accountant near me, Tax Advisor, Texas CPA, The Burns Firm|Tags: business losses, CPA Dallas, cpa near me, Excess Business Loss, NOL, tax, tax accountant, tax accountant near me, tax advisor, Texas CPA, The Burns Firm|

If an individual taxpayer has substantial business losses, unfavorable federal income tax rules can potentially come into play. Here’s what you need to know as you assess your 2024 [...]

The Standard Business Mileage Rate Increased in 2025

January 28th, 2025|Categories: Accountant, Burns Firm, Business Deductions, Business Mileage Rate, Business Vehicle, Business Write-offs, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, IRS Business Mileage Rate, Tax, tax accountant, Tax Advisor, Texas CPA, The Burns Firm|Tags: 2025 Standard Business Mileage Rate, business deductions, Business miles, CPA, cpa near me, Dallas CPA, How to Calculate Business Mile Deduction in 2025, IRS Business Mileage Rate for 2025, Mileage Deduction, Reimbursement for Business Miles, tax advisor, Texas CPA, The Burns Firm|

The nationwide price of gas is slightly higher than it was a year ago and the 2025 optional standard mileage rate used to calculate the deductible cost of operating [...]

Business Owners Beware of the Limits on Deducting Losses

January 14th, 2025|Categories: Accountant, Bookkeeping for Business, Burns Firm, Business, Business Deductions, Business Expense Deductions, Business Travel Deductions, Business Write-offs, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, Expenses, Meals & Entertainment Deductions, Partnership, S Corporation, Services, Small Business, Tax, tax accountant, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm|Tags: Basis Limits for Partnerships and S Corporations, business deductions, Business Expense Deductions, cpa near me, Dallas CPA, Deducting Losses for your Business, tax accountant, tax advisor, The Burns Firm|

Even successful businesses occasionally incur losses. Start-ups and expanding businesses often have unprofitable years, and unexpected events like pandemics can knock companies that have been financially healthy for years for [...]

When Can You Deduct Business Meals and Entertainment?

January 2nd, 2025|Categories: Accountant, Burns Firm, Business Deductions, Business Expense Deductions, Business Travel Deductions, CPA, CPA Dallas, CPA near me, Dallas CPA, Deductions, Entertainment Deductions, Meals & Entertainment Deductions, Tax, tax accountant, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm, Travel Expense|Tags: business expenses, Can I deduct Business Meals, cpa near me, Dallas CPA, Dallas tax advisor, Deducting Business Meals and Entertainment, tax, tax accountant, tax advisor, Texas CPA, The Burns Firm, Travel for Business and Deducting Expenses, Travel for Business and Expense Deductions|

You’re not alone if you’re confused about the federal tax treatment of business-related meal and entertainment expenses. The rules have changed in recent years. Let’s take a look at [...]