QBI – The Burns Firm – Advisors of Complex Financial Matters

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 [...]

Midyear Tax Planning for Noncorporate Small Business Owners

June 23rd, 2026|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, Business Tax Planning, CPA, CPA Dallas, CPA near me, Dallas CPA, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, QBI, QBI Deduction, Small Business, Small Business Tax Planning, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Planning, Tax Planning for Businesses, Tax Strategy, Texas CPA, The Burns Firm, Year-End Tax Planning|Tags: business tax planning, CPA, cpa near me, Dallas CPA, QBI deduction, small business tax planning, tax, tax accountant, tax advisor, Tax planning, tax planning for business, Texas CPA, The Burns Firm|

If you operate your small business as a sole proprietorship or a single-member limited liability company (LLC) treated as a sole proprietorship for tax purposes, paying close attention to [...]

Claiming the QBI Deduction for Rental Real Estate

May 21st, 2026|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, QBI, QBI Deduction, Tax, tax accountant, tax accountant near me, Tax Advisor, Texas CPA, The Burns Firm|Tags: CPA, cpa near me, Dallas CPA, OBBBA, One Big Beautiful Bill Act, QBI deduction, QBI Deduction for Rental Real Estate, tax, tax advisor, Texas CPA, The Burns Firm|

The One Big Beautiful Bill Act (OBBBA), enacted in 2025, made permanent the federal income tax deduction for qualified business income (QBI). This break was originally introduced under the [...]

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 [...]

The QBI Deduction and What’s New in the One Big Beautiful Bill Act

October 14th, 2025|Categories: Accountant, accountant near me, Burns Firm, Business, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, QBI, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Texas CPA, The Burns Firm|Tags: CPA, CPA Dallas, cpa near me, CPA TExas, OBBBA, One Big Beautiful Bill, QBI deduction, qualified business income, tax, tax advisor, The Burns Firm|

The qualified business income (QBI) deduction, which became effective in 2018, is a significant tax benefit for many business owners. It allows eligible taxpayers to deduct up to 20% [...]

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 [...]

The QBI deduction and what’s new in the One Big Beautiful Bill Act

August 28th, 2025|Categories: Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, CPADallas, Dallas CPA, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, QBI, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Rules, Texas CPA, The Burns Firm|Tags: cpa near me, Dallas CPA, OBBBA, QBI, QBI Deductions, tax, tax advisor, Texas CPA, The Burns Firm|

The qualified business income (QBI) deduction, which became effective in 2018, is a significant tax benefit for many business owners. It allows eligible taxpayers to deduct up to 20% of [...]

Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

December 28th, 2022|Categories: Accountant, Accounting, Burns Firm, Business, CPA, CPA Dallas, Dallas CPA, QBI, Services, Small Business, Tax, Tax Advisor, Tax Planning, The Burns Firm, Year-End Tax Planning|Tags: Business Owner and QBI, QBI, QBI deduction, qualified business income, tax, The Burns Firm, year end tax planning|

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or [...]

How to Maximize the QBI Deduction Amid the Pandemic

March 10th, 2022|Categories: Accountant, Accounting, Burns Firm, Business, C Corporation, CPA, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Partnership, QBI, S Corporation, Services, Small Business, Tax, Tax Credits, Tax Deductions, Tax Preparation, The Burns Firm|Tags: can I take a QBI deduction, CPA Dallas, Dallas CPA, how do i know if i have qualified business income, QBI, QBI deduction, qualified business income, tax, tax deductions, The Burns Firm, what is a QBI deduction, what is a specified service trade or business, what is a SSTB|

Since the qualified business income (QBI) deduction first become available in 2018, things have changed dramatically, mainly due to the various effects of the COVID-19 pandemic. Possible tax rate increases, and [...]

Take Advantage of Tax Breaks for Small Businesses

March 8th, 2022|Categories: Accounting, Burns Firm, Business, CPA, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, QBI, Services, Small Business, Tax, Tax Deductions, Tax Preparation, Tax Return, TCJA|Tags: 2022 tax breaks for business, Bonus depreciation, CPA Dallas, Dallas CPA, QBI deduction, Sec 179 depreciation deduction, Sec. 179 deductions, Sec. 179 limitations, tax, tax breaks for small businesses, tax preparer for business, The Burns Firm|

If you own a small or medium-sized business, it may be eligible for some significant tax breaks that aren't available for larger entities. Here are three examples to consider as you [...]