Small Business – Page 6 – The Burns Firm – Advisors of Complex Financial Matters

Building Your Legacy

September 30th, 2021|Categories: Accounting, Burns Firm, Business, C Corporation, CPA Dallas, Dallas CPA, Growing A Business, Merger & Acquisition, Partnership, Services, Small Business, Tax|Tags: business legacy, CPA Dallas, creating a legacy in my business, Dallas CPA, growing my business, How do I grow my business legacy, The Burns Firm|

The desire to leave a legacy may be the height of altruism for it's a gift to the future, the benefit of which you may never witness, nor ever feel it's [...]

You Can Only Claim A Casualty Loss Tax Deduction in Certain Situations

September 14th, 2021|Categories: Accounting, Burns Firm, Business, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Partnership, S Corporation, Services, Small Business, Tax, Tax Deductions, Tax Preparation, Tax Return, The Burns Firm|Tags: can I deduct a loss on my tax return, can I deduct damage caused by a hurricane, can I deduct hurricane loss on tax return, casualty loss tax deduction, CPA Dallas, cpa near me, Dallas CPA, loss and damage deductions, tax deductions, tax preparer near me, The Burns Firm|

In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires and other disasters. No matter where you live, unexpected disasters may cause damage to your home [...]

The Deductibility of Corporate Expenses Covered By Officers or Shareholders

August 31st, 2021|Categories: Burns Firm, C Corporation, CPA Dallas, Dallas CPA, Expenses, Partnership, S Corporation, Services, Small Business, Tax, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, The Burns Firm|Tags: are corporate expenses deductible, can I deduct corporate expenses, can I get reimbursed for business expenses, CPA Dallas, Dallas tax preparer, expenses and tax, The Burns Firm, what expenses are deductible on a tax return|

Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer [...]

Deadline Coming: Follow Up on Your PPP Loans

August 13th, 2021|Categories: Accounting, Burns Firm, Covid-19, COVID-Related Tax Relief Act (COVIDTRA), CPA Dallas, Dallas CPA, Dallas tax return preparer, PPP, Small Business, The Burns Firm|Tags: CPA Dallas, Dallas CPA, Forgiveness Application Deadline, PPP loan deadline, PPP loan deadline approaching, PPP loans, tax PPP loans, The Burns Firm, when is my application for forgiveness due for the PPP loan|

Payroll Protection Plan (PPP) loans were a lifeline for many small business owners during the worst of the pandemic-driven economic slowdown. In total, the Small Business Administration (SBA) approved nearly 12 [...]

Eligible Businesses: Claim the Employee Retention Tax Credit

July 22nd, 2021|Categories: Accounting, Employee Retention Tax Credit, ERTC, IRS, Partnership, S Corporation, Services, Small Business, Tax, Tax Credits, Tax Cuts, Tax Withholding, TCJA, The Burns Firm|Tags: CPA Dallas, Dallas CPA, does my business qualify for the employee retention tax credit, does my business qualify for the ERTC, ERTC, tax credits for businesses, tax credits for my business, The Burns Firm, what tax credita are available for my business|

The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a [...]

Due Diligence Considerations for Sellers

June 10th, 2021|Categories: Accounting, Burns Firm, Business, Buying a Business, Due Diligence, Merger & Acquisition, Partnership, S Corporation, Sell Business, Selling a Business, Small Business, Tax, Tax Planning|Tags: CPA for the sell of my business, do I need a CPA when I sell my business, do I need due diligence if I am buying a company, due diligence, due diligence for seller, how do I sell my business, M&A, merger and acquisition, The Burns Firm, The Burns Firm M&A Advisors, what is due diligence, what is seller due diligence|

You may be able to structure the sale of a corporate business as a tax-free reorganization. However, to be totally tax-free, you generally must receive nothing but stock in the acquiring [...]

Deductions for Self-Employed

June 3rd, 2021|Categories: Accounting, Burns Firm, Business, Services, Small Business, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation|Tags: are business meals deductible, can i deduct miles driven for business, CPA Dallas, cpa near me, Dallas CPA, do I have to pay self-employment tax, health insurance deduction on tax return, home office deductions, how much is self-employment tax, is business travel deductible, retirement plan contributions, tax, tax credits for self-employed, tax deductions, tax deductions for self-employed, tax preparer near me, The Burns Firm, what can I deduct on my return for my business, what credits can I take on my tax return if I am self-empolyed|

If your business was forced to close due to the pandemic, you may be itching to get back in the game. Or maybe you're looking to fulfill a lifelong dream of [...]

As the Economy Warms Up, Will You Be Ready?

June 1st, 2021|Categories: Accounting, Burns Firm, Business, C Corporation, CPA Dallas, Dallas CPA, Merger & Acquisition, Partnership, S Corporation, Sell Business, Selling a Business, Services, Small Business, Tax, Tax Planning|Tags: are you ready for a boom in the economy, CPA Dallas, Dallas CPA, rise in the economy, tax accountant, The Burns Firm, the economy and your taxes, the economy is ramping up|

Preparing for a surge in demand for your business's products and services doesn't mean you have to go out on a financial limb. But some contingency planning may be in order. [...]

The Importance of an EMail Disclaimer

May 27th, 2021|Categories: Accounting, Burns Firm, Business, C Corporation, CPA Dallas, Dallas CPA, Litigation Services, Merger & Acquisition, Partnership, Sell Business, Selling a Business, Services, Small Business, Tax|Tags: CPA Dallas, Dallas CPA, do I need an email disclaimer, email disclaimers, is an email disclaimer needed on my emails, The Burns Firm|

Email is ubiquitous in the American workplace and along with its growth comes the risk of lawsuits that can cost your company a bundle. In most cases an employer is held [...]

Still Have Questions After You File Your Tax Return?

May 20th, 2021|Categories: Accounting, Burns Firm, Business, C Corporation, Dallas CPA, Estimated Tax, Estimated Tax Payments, IRS, IRS Forms, Partnership, Retirement Plan, S Corporation, Small Business, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, The Burns Firm|Tags: CPA Dallas, CPA North Texas, Dallas CPA, filing a tax return, i have a question regarding regarding my already filed tax return, IRS questions, tax accountant, tax accountant near me, tax accountant north dallas, tax accountant north texas, tax credits, tax deductions, tax questions for you, The Burns Firm, we answer tax related questions, who can I ask my questions to regarding my tax return|

Even after your 2020 tax return has been successfully filed with the IRS, you may still have some questions about the return. Here are brief answers to three questions that [...]

Working in the Gig Economy Results in Tax Obligations

May 13th, 2021|Categories: Accounting, Contractor, Dallas CPA, Small Business, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, The Burns Firm|Tags: am i a gig worker, CPA Dallas, cpa near me, Dallas CPA, do I need to pay tax on my gig income, do i pay tax on my tips, gig income, how should I pay my taxes if I am a musician, side gig and taxes, tax accountant near me, tax return preparer near me, The Burns Firm, what are the tax obligations if I am a gig worker, what is a gig worker, what records do i need to keep on my gig income|

Before the COVID-19 pandemic hit, the number of people engaged in the “gig” or sharing economy had been growing, according to several reports. And reductions in working hours during the [...]

Know Your OSHA Obligations if COVID-19 Strikes Your Business

April 27th, 2021|Categories: Accounting, Covid-19, COVID-Related Tax Relief Act (COVIDTRA), CPA Dallas, Dallas CPA, Services, Small Business, Tax|Tags: business losses due to Covid-19, Coronavirus, Covid-19, Covid-19 and OSHA obligations, covid-19 and the workplace, CPA Dallas, cpa near me, Dallas area tax preparer, Dallas CPA, reporting requirements for OSHA during pandemic, tax preparer near me, The Burns Firm|

Not all employers are bound by the recordkeeping and reporting requirements established by the Occupational Safety and Health Administration (OSHA). Generally, an employer must have more than 10 employees to be [...]