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

Follow Detailed Recordkeeping Rules for Vehicle Expense Deductions

October 15th, 2026|Categories: Accountant, accountant near me, Bookkeeping for Business, Burns Firm, Business Automobile, Business Deductions, Business Expense Deductions, Business Mileage Rate, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, Tax, tax accountant, tax accountant near me, Tax Advisor, Texas CPA, The Burns Firm, Vehicle Expenses|Tags: Business Vehicle Expense Deductions, Business Vehicle Expenses, CPA, cpa near me, Dallas CPA, IRS Rules for Tracking Business Miles, Mileage Logs, Recordkeeping for Businesses, tax, tax accountant, tax advisor, Texas CPA|

Many business owners fail to follow the strict tax rules for substantiating vehicle expenses. But if your business is audited, the IRS will most likely ask for mileage logs if [...]

Can Partners Deduct Expenses They Pay?

October 13th, 2026|Categories: Accountant, accountant near me, Burns Firm, Business, Business Expense Deductions, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Expenses, Home Office, Home Office Deduction, Home Office Expenses, Meals & Entertainment Deductions, Mileage Deductions, Partnership, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Rules, Texas CPA, The Burns Firm|Tags: Can Partners Deduct Expenses They Pay, CPA, cpa near me, Dallas CPA, expenses, Expenses and Your Partnership in a Business, Partner in a Business, Partnership, tax, tax accountant, tax advisor, The Burns Firm|

If you own a business taxed as a partnership, you may occasionally pay work-related expenses out of pocket. This raises a common question: Can you deduct those payments on your [...]

Self-Employed? You May Be Eligible for the Home Office Deduction

August 13th, 2026|Categories: Accountant, accountant near me, Burns Firm, Business, Business Deductions, Business Expense Deductions, Business Tax Planning, Business Write-offs, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Expenses, Home Office, Home Office Deduction, Home Office Expenses, Indirect vs Direct Expenses, Itemized Deductions, Record Keeping for Business, Recordkeeping for Travel Expense, Small Business, Small Business Tax Planning, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Breaks, Tax Credits, Tax Deductions, Tax Preparation, tax preparer near me, Tax Return, Tax Rules, tax write-offs, Texas CPA, The Burns Firm, Travel Expense, Travel Write-offs for Business|Tags: CPA, cpa near me, Dallas CPA, Direct Expenses vs Indirect Expenses, home office deductions, Home Office Deductions on Tax Return, self-employed, tax, tax accountant near me, tax advisor, tax preparation, tax preparer near me, Texas CPA, The Burns Firm, What Are Indirect Expenses|

Once upon a time, employees could claim home office expenses as a miscellaneous itemized deduction, subject to a 2%-of-adjusted-gross-income floor, if the arrangement was for their employer's convenience. But [...]

Make the Most of the General Business Credit

July 15th, 2026|Categories: Accountant, accountant near me, Burns Firm, Business, Business Assets, Business Deductions, Business Depreciation, Business Expense Deductions, Business Losses, Business Recordkeeping, Business Travel Deductions, Business Valuation, Business Vehicle, Business Write-offs, CPA, CPA Dallas, Dallas CPA, General Business Credit, QBI, QBI Deduction, Record Keeping for Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Breaks, Tax Credits, Tax Deductions, Tax Depreciation, Tax Preparation, Tax Refund, Tax Return, Tax Rules, Tax Withholding, Tax-Free Merger, Texas CPA, The Burns Firm, Vehicle Deductions, Vehicle Expenses|Tags: Business Advisor, business tax credits, CPA, cpa near me, Dallas CPA, General Business Credit, tax, tax accountant, tax advisor, tax credits for businesses, The Burns Firm, What is the General Business Credit|

Tax credits are far more valuable than tax deductions. Unlike a deduction, which reduces a business's taxable income, a credit reduces the business's tax liability dollar for dollar. Tax [...]

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 [...]

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, [...]

Avoid Mixing Personal and Business Accounts

January 20th, 2026|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, Business Expense Deductions, CPA, CPA Dallas, CPA near me, Dallas CPA, Tax, tax accountant, tax accountant near me, Tax Advisor, Texas CPA, The Burns Firm|Tags: accountant near me, Accounting, Accounting Method for Businesses, Business Accounting, CPA, cpa near me, Dallas accountant, Dallas CPA, Personal Account vs Business Account, Separate Business from Personal Expenses, small business, tax, tax advisor, Texas CPA, The Burns Firm|

Small business owners and independent contractors are always looking for ways to save time. If you run your own business (or want to start one), it might seem tempting [...]

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 [...]

Review Your Business Expenses Before Year End

November 4th, 2025|Categories: Accountant, Accounting, Burns Firm, Business, Business Expense Deductions, Business Recordkeeping, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, Expenses, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, TCJA, Texas CPA, The Burns Firm, Year-End Tax Planning|Tags: business expenses, CPA, cpa near me, Dallas CPA, OBBBA, OBBBA and TCJA changes, Ordinary and Necessary Business Expenses, tax, tax advisor, Texas CPA, The Burns Firm, Tx, year end tax planning, Year-End Business Expenses|

Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will reduce 2025 taxes and might even provide permanent tax savings. [...]

The One, Big, Beautiful Bill could change the deductibility of R&E expenses

October 9th, 2025|Categories: Accountant, accountant near me, Burns Firm, Business, Business Expense Deductions, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, R&E, Tax, tax accountant, tax accountant near me, Tax Advisor, Texas CPA, The Burns Firm|Tags: business, CPA, CPA Dallas, cpa near me, CPA TExas, OBBBA, One Big Beautiful Bill Act, R&E Expenses, Research and Experimental Expenses, tax, tax accountant near me, tax advisor, Tax Hikes for Businesses, The Burns Firm|

The treatment of research and experimental (R&E) expenses is a high-stakes topic for U.S. businesses, especially small to midsize companies focused on innovation. As the tax code currently stands, [...]

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 [...]