Dependents – The Burns Firm – Advisors of Complex Financial Matters

Parents: Claim All the Tax Credits You’re Entitled To

February 26th, 2026|Categories: accountant near me, Adoption, Adoption Tax Credits, Adult Dependent, American Opportunity Tax Credit, Burns Firm, Charitable Donations, Child Care Credit, Child Tax Credit, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Dallas tax return preparer, Dependent Care Credit, Dependent Care credits, Dependents, Education Expenses, Educator Expense Tax Deduction, Form 1040, Higher Education Credits, Income Tax, Kiddie Tax, Lifetime Learning Credit, Student Loan Interest, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Depreciation, Tax Preparation, tax preparer near me, Tax Return, Tax Return Preparer, Texas CPA, The Burns Firm|Tags: Adoption Credit, American Opportunity credit, Child Care Credits, Child Dependent Credit, Claim Tax Credits on Your Tax Return, CPA, cpa near me, Credit for Other Dependents, Dallas CPA, Dependent Care Credit, Higher Education Credit, Lifetime Learning credit, tax, tax advisor, tax credits, tax preparer, Texas CPA, The Burns Firm|

Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are tax credits, because they [...]

7 Breaks for Families Under the New Tax Law

August 7th, 2025|Categories: Adoption, Adoption Tax Credits, Burns Firm, Child Care Credit, Child Tax Credit, CPA, CPA Dallas, CPA near me, Dallas CPA, Dependent Care Credit, Dependent Care credits, Dependent Care FSAs, Dependents, Section 529, Trump Accounts|Tags: Adoption Credit, child and dependent care credit, child tax credit, CPA, CPA Advisor, CPA Dallas, CPA firm in Dallas, cpa near me, Credit for Other Dependents, dependent care FSA, section 529 plans, tax, tax advisor, tax breaks, Tax Breaks for Families, The Burns Firm, Trump Accounts|

The One, Big, Beautiful Bill Act (OBBBA), which was enacted on July 4, generally extends and expands tax provisions that were scheduled to expire at year end. Here are [...]

To Itemize or Not to Itemize?

December 12th, 2024|Categories: Accountant, accountant near me, Burns Firm, Charitable Contributions, Charitable Donations, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, Dependents, Medical Deductions, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Return, Tax Return Filing, Tax Return Preparer, Tax Rules, tax write-offs, Texas CPA, The Burns Firm|Tags: CPA, cpa near me, Dallas CPA, itemized deductions, Itemizing for 2024, Personal Tax and Itemizing, Should I Itemize My Deductions, tax, tax advisor, tax deductions, Texas CPA, The Burns Firm, What Can I Use for Itemized Deductions|

With the tax year winding down, it's time to evaluate your personal tax situation. Will you claim the standard deduction or itemize deductions on your 2024 tax return? The [...]

You May Be Entitled to Tax Breaks If Caring For An Elderly Relative

June 13th, 2024|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Dependent Care Credit, Dependent Care credits, Dependents, Elderly, Tax, Tax Advisor, Tax Credits, Tax Deductions, Texas CPA, The Burns Firm|Tags: Caring for Elderly Relative, cpa near me, Dallas CPA, Dependent Care Tax Credit, Elderly Care, Medical Expense Deduction, Nonchild Dependent Credit, tax, tax advisor, tax benefits for elderly care, Tax Break if Caring for Elderly Relative, tax deductions, Texas CPA, The Burns Firm|

There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing the person to receive [...]

Can You Claim Your Parent as a Dependent?

February 1st, 2024|Categories: Accountant, Adult Dependent, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Deductions, Dependent Care credits, Dependents, Parent Dependent, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Filing Status, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, Tax Return Filing, Tax Return Preparer, tax write-offs, The Burns Firm|Tags: Can I Claim My Parent as a Dependent, Claiming Dependents on a Tax Return, CPA Dallas, cpa near me, Dependent Child Care, dependents, filing status, tax, tax advisor, tax deductions, The Burns Firm, Who is a Dependent?, who qualifies as a dependent|

If you pay over half the cost of supporting a parent, your parent is considered your dependent for federal income tax purposes. This treatment potentially entitles you to some significant tax [...]