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

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 [...]