Dallas tx accountant – The Burns Firm – Advisors of Complex Financial Matters

Do You Qualify as Head of Household

March 7th, 2024|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Filing Status, Head of Household, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Filing Status, Tax Preparation, Tax Return, Tax Return Filing, Tax Return Preparer, The Burns Firm|Tags: cpa near me, Dallas CPA, head of household, HOH Filing Status, tax, tax advisor, tax filing, tax filing status, tax return preparation, The Burns Firm|

The head of household (HOH) federal tax filing status is often misunderstood by taxpayers who might qualify, including single, divorced or legally separated parents, and taxpayers who support adult family [...]

Taking your spouse on a business trip? Can you write off the costs?

February 22nd, 2024|Categories: Accountant, Accounting, Burns Firm, Business Deductions, Business Expense Deductions, Business Write-offs, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tx accountant, Expenses, Services, Tax, tax accountant near me, Tax Advisor, Tax Deductions, The Burns Firm, Travel Expense, Travel Write-offs for Business|Tags: Business Travel, Business Travel with Spouse, Business Travel Write-off Guidelines, business write-offs, tax advisor, The Burns Firm, Travel Expense Write-offs, Write-off Business Travel, write-offs|

A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit $928.4 billion by 2030, according to a report [...]

Dos and Don’ts for Business Expense Deductions

February 6th, 2024|Categories: Accountant, Accounting, Burns Firm, Business, Business Automobile, Business Deductions, Business Expense Deductions, Business Vehicle, Business Write-offs, Client Gifts, CPA, CPA Dallas, CPA near me, CPADallas, Dallas CPA, Dallas tx accountant, Deductions, Entertainment Deductions, Expenses, Meals & Entertainment Deductions, Services, Tax, tax accountant, Tax Advisor, Tax Deductions, The Burns Firm|Tags: are client gifts deductible, business deductions, Business Expense Deductions, business expenses, Client Gifts, cpa near me, Dallas CPA, deductions, Meal and Entertainment Deductions, tax, tax deductions, The Burns Firm, Vehicle Expense Deduction, What Can I Deduct for Business Expenses|

As tax season heats up, companies of all kinds and sizes will be on the hunt for ways to reduce their tax bills. One of the most common ways is [...]

The Kiddie Tax Could Affect Your Children Until They’re Young Adults

January 23rd, 2024|Categories: Accountant, Accounting, Burns Firm, Child Tax Credit, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tx accountant, Kiddie Tax, Services, Tax, Tax Advisor, Tax Deductions, The Burns Firm|Tags: cpa near me, Dallas CPA, Does the kiddie tax affect me, kiddie tax, Kiddie Tax Basics, tax, tax advisor, The Burns Firm|

The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead of at the usually [...]

Answers to Your Tax Season Questions

January 18th, 2024|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Expenses, Medical Deductions, Medical Expenses, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Depreciation, Tax Filing Status, Tax Preparation, Tax Rates, Tax Return, Tax Return Filing, Tax Return Preparer, tax season tips, Tax Withholding, tax write-offs, Taxable Income, The Burns Firm, Wages, Withholding|Tags: 2023 Tax Preparation, 2023 Tax Return preparation, 2023 Tax Season, CPA, CPA Dallas, cpa near me, Questions about taxes, tax, tax advisor, tax preparation, Tax Questions, tax return preparer near me, The Burns Firm, W2s and 1099, What do I need to do for 2023 tax season, what documents are needed to prepare a tax return|

The IRS announced it will open the 2024 income tax return filing season on January 29. That’s when the tax agency will begin accepting and processing 2023 tax year [...]

Sweeten Your Lender Relationships With Strong Financial Reporting

January 4th, 2024|Categories: Accountant, Accounting, Burns Firm, Business, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tx accountant, Financial Statements, Loans, Services, Tax, The Burns Firm|Tags: CPA, CPA Dallas, cpa near me, CPA Preparation of Financial Statements, Financial Reporting, Financial Statements, Getting a Loan, Healthy Financials, Lender Relationship, Strong Financial Reports, Sweeten Your Lender Relationships With Strong Financial Reporting, tax advisor, The Burns Firm|

No matter what the economy, applying for business credit is no cake walk. Sure, it might be a little easier when interest rates are lower, and lenders really want to [...]

Deposit Interest into Five Tax Buckets

December 12th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tx accountant, Interest, Investment Interest, Investments, Mortgage Interest, Services, Student Loan Interest, Tax, tax accountant, Tax Advisor, Tax Cuts, Tax Deductions, Tax Planning, Tax Rates, TCJA, The Burns Firm|Tags: Business Interest, CPA, cpa near me, Dallas CPA, Interest Rates, Investment Interest, mortgage interest, Personal Interest, Student loan interest, tax, tax accountant, tax accountant near me, tax advisor, Tax Cuts and Jobs Act of 2017, TCJA, The Burns Firm|

Interest rates rise and fall periodically, but the tax rules for deducting interest expenses remain the same — unless Congress changes them. Generally, the current rules have been in place [...]

Plan Now to Reduce AMT Exposure

November 17th, 2022|Categories: Accountant, accountant near me, Accounting, Alternative Minimum Tax, AMT, Burns Firm, CPA, CPA Dallas, CPA near me, CPA75248, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Cuts, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, TCJA, The Burns Firm|Tags: AMT exposure, CPA 75248, CPA Dallas, cpa near me, Dallas CPA, how do I reduce my AMT exposure, individual alternative minimum tax still in place, tax accountant near me, tax advisor near me, TCJA, The Burns Firm, what are risks of AMT|

First the bad news: Despite passage of the Tax Cuts and Jobs Act (TCJA), the individual alternative minimum tax (AMT) is still in place. But there's some good news: The [...]

Investing in the Future With a 529 Education Plan

November 1st, 2022|Categories: 529 Plan, Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA in NOrth Texsa, CPA near 75248, CPA near 75252, CPA near me, CPA neasr 75248, CPA75248, CPADallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Preparation, tax preparer near me, Tax Return, The Burns Firm|Tags: 529 plan, 529 plans, education saving plan 529, North Dallas CPA, North Texas CPA, saving for college with a 529 plan, tax preparer near me, The Burns Firm|

If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. These plans, [...]

How Tax Reform Affects Divorce Settlements for Small Business Owners

October 20th, 2022|Categories: Accountant, accountant near me, Accounting, CPA, CPA Dallas, CPA in NOrth Texsa, CPA near 75248, CPA near 75252, CPA near me, CPA neasr 75248, CPADallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Self-employed, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, The Burns Firm|Tags: business tax issues, child-related tax issues and divorce, CPA Dallas, CPA neaer 75248, cpa near me, Dallas CPA, how tax reform affects divorce settlements, investments and real estate when you get a divorce, North Dallas CPA, North Texas CPA, small business and tax consequences if divorced, small business owners and how divorce affects them, tax, tax accountant near me, tax adviser, tax advisor, tax and divorce, tax and divorce settlements, tax reform, tax treatment of alimony, The Burns Firm|

How does the Tax Cuts and Jobs Act (TCJA) affect divorce settlements? Changes in the new law may require divorcing individuals — especially those who own businesses and other investments [...]

Seller-paid points: Can homeowners deduct them?

October 18th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA in NOrth Texsa, CPA near 75248, CPA near 75252, CPA neasr 75248, CPA75248, CPADallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, The Burns Firm|Tags: basics of points, can homeowner deduct seller-paid point, CPA Dallas, Dallas CPA, North Dallas CPA, North Texas CPA, paid points when purchasing a home, seller-paid point on home, taqx accountant near 75248, tax accountant near me, The Burns Firm, who pays the points when purchasing|

In its latest report, the National Association of Realtors (NAR) announced that July 2022 existing home sales were down but prices were up nationwide, compared with last year. “The [...]

Communication Is Critical During Mergers and Acquisitions

October 13th, 2022|Categories: Accounting, Burns Firm, Business, Buying a Business, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Growing A Business, Merger & Acquisition, Sell Business, Selling a Business, Services, Small Business, Tax, Tax Credits|Tags: Allison Shike, communication key in a M&A dea, CPA Dallas, Dallas CPA, Denis Burns, due diligence, how do I buy a business, M&A, M&A firm near me, merger and aquisitions, mergers & acquisitions, The Burns Firm, The Burns Firm M&A Advisors, what do I share with employees if I am selling my business|

Want to enter a market quickly, expand market share, or acquire an established brand? The first phrase that comes to mind is mergers & acquisitions. That can be a quick [...]

How Will Inflation Affect Your 2023 Tax Bill

October 11th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, CPA neasr 75248, CPA75248, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, The Burns Firm|Tags: CPA 75248, CPA Dallas, CPA neaer me, Dallas CPA, how will inflation affect me, how will inflation affect your tax bill, inflation, inflation and tax, The Burns Firm|

Inflation has been surging this year. The July 2022 consumer price index (CPI) was up 8.5% year over year, according to the latest data from the U.S. Bureau of Labor [...]

Be a Hands-On Owner to Maximize Profits

October 6th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, Business Write-offs, Buying a Business, CPA, CPA Dallas, CPA near me, CPA neasr 75248, CPA75248, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Growing A Business, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Preparation, tax preparer near me, Tax Return, The Burns Firm|Tags: be a hands-on owner, CPA 75248, CPA Dallas, cpa near me, Dallas CPA, guidelines for owning a business, how can a business owner maximize profit, owning a business, tax preparation, tax preparer near me, tips for owning a business, what do I need to know about owning a business|

Over the years, McDonald's has been able to sell hundreds of billions of hamburgers. The business started with a single drive-in burger stand started by two brothers in Southern California. [...]

Year-end Tax Planning Ideas for Individuals

October 4th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA in NOrth Texsa, CPA near 75248, CPA near 75252, CPA near me, CPA neasr 75248, CPA75248, CPADallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Estimated Tax, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, tax season tips, Tax Withholding, The Burns Firm, Year-End Tax Planning|Tags: CPA Dallas, cpa near me, Dallas CPA, how to prepare tax projections, North Dallas CPA, North Texas CPA, tax, tax accountant, tax accountant near me, Tax planning, tax preparer near me, tax projections 2022, tax projections for 2022, tax return preparation, The Burns Firm, year end tax planning|

Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next. One of the first [...]