Business

Preventative Steps Help Ensure M&A Success

June 18th, 2020|Categories: Accounting, Burns Firm, Business, Buying a Business, Merger & Acquisition, Sell Business, Selling a Business|Tags: , , , , , , , |

Just because a merger or acquisition is completed on paper does not mean the transactions will be a success. The implications can generally be seen 18 to 24 months after [...]

Hit the Ground Running: 7 Steps for New Business Owners

June 9th, 2020|Categories: Accounting, Burns Firm, Business, Buying a Business, C Corporation, Merger & Acquisition, Partnership, S Corporation, Services, Tax, Tax Preparation, Tax Return|Tags: , , , , , , , |

Running a new business can be a daunting endeavor. As soon as you form a business, you will face many important decisions, ranging from mundane to critical. While much of [...]

Can Your Business Survive and Even Thrive in These Trying Times?

May 28th, 2020|Categories: Accounting, Business, CARES Act, Coronavirus, Covid-19|Tags: , , , , , , , , |

The novel coronavirus (COVID-19) pandemic has caused difficulties for millions of businesses — from family-owned restaurants and niche manufacturers to multinational airlines and oil companies. As the economy slowly reopens [...]

Boosting the Productivity of Remote Workers

May 14th, 2020|Categories: Accounting, Burns Firm, Business, CARES Act, Coronavirus, Covid-19, Tax|Tags: , , , , , , , , , |

Even while conditions in some states have improved enough to allow some workers in exile to begin returning to their workplaces, life is not likely to return to normal for [...]

CARES Act Provides 4 Possible Reasons to File an Amended Return

April 30th, 2020|Categories: Accounting, Burns Firm, Business, CARES Act, Tax, Tax Cuts, Tax Deductions, Tax Planning|Tags: , , , , , , , , , |

The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act delivers good news to individuals and businesses, including valuable tax-relief measures. Some of that tax relief is retroactive. These provisions [...]

Should You File a Business Interruption Claim for COVID-19 Losses?

April 29th, 2020|Categories: Accounting, Burns Firm, Business, C Corporation, CARES Act, Partnership, S Corporation, Services, Tax, Tax Deductions|Tags: , , , , , , |

With much of the country currently on lock down due to the novel coronavirus (COVID-19) crisis, many nonessential businesses have been shuttered. As a result, millions of small business owners find themselves [...]

Hiring Independent Contractors? Make Sure They Are Properly Classified

April 28th, 2020|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Tax, Tax Preparation, Tax Return|Tags: , , , , , , , , |

As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified [...]

CARES ACT Changes Retirement Plan and Charitable Contribution Rules

April 16th, 2020|Categories: Accounting, Burns Firm, Business, C Corporation, Merger & Acquisition, Partnership, S Corporation, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: , , , , |

As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes [...]

Testing the Waters Before Jumping In

April 2nd, 2020|Categories: Accounting, Burns Firm, Business, Buying a Business, Merger & Acquisition, Sell Business, Selling a Business, Services, Tax|Tags: , , , , , , , , , , |

When considering a merger or acquisition, the most opportune time to find out about possible culture clashes is obviously before the deal is complete. In fact, one often-cited reason for [...]

IRS Issues New Regs on Deducting Meal and Entertainment Expenses

March 26th, 2020|Categories: Accounting, Burns Firm, Business, Buying a Business, C Corporation, Litigation Services, Merger & Acquisition, Partnership, Sell Business, Selling a Business, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, TCJA|Tags: , , , , , , |

The Tax Cuts and Jobs Act (TCJA) permanently eliminated deductions for most business-related entertainment expenses paid or incurred after 2017. For example, you can no longer deduct 50% of the cost [...]

Individuals Get Coronavirus (COVID-19) Tax and Other Relief

March 24th, 2020|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Selling a Business, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: , , , , , , , |

Taxpayers now have more time to file their tax returns and pay any tax owed because of the coronavirus (COVID-19) pandemic. The Treasury Department and IRS announced that the federal [...]

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