Tax Credits – 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 [...]

The “Kiddie Tax” Can Apply Long After Childhood

June 18th, 2026|Categories: Accountant, accountant near me, Burns Firm, Child Tax Credit, CPA, CPA Dallas, CPA near me, Dallas CPA, Kiddie Tax, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Rules, Texas CPA, The Burns Firm|Tags: CPA, cpa near me, Dallas CPA, Kiddie Tax Credit, tax, tax advisor, Tax Rules for Claiming Kiddie Tax, Texas CPA, The Burns Firm|

Many parents don’t know that the so-called “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and [...]

Tax Mitigation Strategies When Rebalancing Your Investment Portfolio

May 7th, 2026|Categories: Accountant, accountant near me, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Investment Portfolio, Investments, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Planning, Tax Planning for Businesses, Tax Strategy, Texas CPA, The Burns Firm|Tags: CPA, cpa near me, Dallas CPA, investment portfolio, tax, tax advisor, Tax Mitigation Strategy, Tax Strategies, Texas CPA, The Burns Firm|

Large stock market gains in recent years, coupled with some significant volatility in 2026, have left many investors with portfolios that are out of balance with their desired asset [...]

It’s Your Last Chance to Claim These Clean Energy Tax Breaks

March 19th, 2026|Categories: Accountant, accountant near me, Burns Firm, Clean Vehicle Tax Credit, Clean Vehicle Tax Credits, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Dallas tax return preparer, Electric Vehicle, Electric Vehicle Credits, EV Credits, EV's, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Breaks, Tax Credits, Texas CPA, The Burns Firm|Tags: Clean Energy Tax Credit, Clean Energy Tax Incentives, Clean Energy Vehicle, CPA, cpa near me, Dallas CPA, tax, tax advisor, tax breaks, tax credits, The Burns Firm|

Last year’s One Big Beautiful Bill Act (OBBBA) terminated several clean energy tax incentives earlier than previously scheduled. But if you bought an electric vehicle or made certain green [...]

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 [...]

When Medical Expenses Are — And Aren’t — Tax Deductible

February 3rd, 2026|Categories: Accountant, accountant near me, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Deductions, Medical Deductions, Medical Expenses, Medicare Premiums, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, tax preparer near me, Tax Return Preparer, tax write-offs, Texas CPA, The Burns Firm|Tags: CPA, CPA Dallas, cpa near me, Eligible Deductions for Tax Return, Eligible Expenses for Deductions, medical deductions, medical expenses, tax, tax advisor, tax deductions, Texas CPA, The Burns Firm, Weight-Loss Program Deductible on Tax Return, What medical expenses are deductible|

If you had significant medical expenses last year, you may be wondering what you can deduct on your 2025 income tax return. Income-based thresholds and other rules can make [...]

There’s Still Time to Set Up a SEP and Reduce Your 2025 Taxes

January 27th, 2026|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Dallas tx accountant, IRA, SEP, SEP-IRA, SIMPLE IRA Plan, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Breaks, Tax Credits, Texas CPA, The Burns Firm, Traditional IRA|Tags: CPA, cpa near me, Dallas CPA, IRA, SEP, SEP and Your Business, SEP vs IRA, Should I setup a SEP, tax, tax accountant, tax advisor, Texas CPA, The Burns Firm|

If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one before you file your 2025 tax return. If you choose [...]

Tax Filing FAQs for Individuals

January 22nd, 2026|Categories: Accountant, accountant near me, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Bracket, Tax Credits, Tax Filing Extension, Tax Filing Status, Tax Forms, Tax Law, Tax Preparation, tax preparer near me, Tax Records, Tax Refund, Tax Return, Tax Return Filing, Tax Return Preparer, Tax Withholding, Taxable Income, Texas CPA, The Burns Firm|Tags: 2025, 2025 Tax Return Filing, 2025 Tax Season, CPA, cpa near me, Dallas CPA, tax, tax accountant, tax advisor, tax filing, Tax Filing 2025, Tax Filing Deadline for 2025 Tax Year, tax preparer, Texas CPA|

The IRS is opening the filing season for 2025 individual income tax returns on January 26. This is about the same time as when the agency began accepting and [...]

Year-End Tax Planning for Individuals

December 9th, 2025|Categories: Accountant, Burns Firm, CPA Dallas, CPA near me, Dallas CPA, Dallas tx accountant, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Breaks, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, tax preparer near me, tax season tips, tax write-offs, Taxable Income, Texas CPA, The Burns Firm, Year-End Tax Planning|Tags: cpa near me, CPA TExas, Dallas CPA, tax, tax advisor, Tax planning, tax savings, The Burns Firm, year end tax planning|

Year end is here, but there's still time for individual taxpayers to make moves to lower their 2025 tax bills. The One Big Beautiful Bill Act (OBBBA), which became [...]

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 OBBBA Eliminates Clean Energy Tax Incentives

August 21st, 2025|Categories: Burns Firm, Clean Vehicle Tax Credit, Clean Vehicle Tax Credits, CPA, CPA Dallas, CPA near me, CPA Texas, Energy Credits, Home Energy Credits, Home Energy Tax Credits, OBBBA, One Big Beautiful Bill Act, Tax, tax accountant, Tax Advisor, Tax Credits, Texas CPA, The Burns Firm|Tags: Alternative Fuel Vehicle Refueling Property Credit, Business Clean Energy Tax Incentives, Clean Energy Tax Incentives, Clean Vehicle Incentives, Clean Vehicle Tax Credits, cpa near me, Dallas CPA, Home Energy Tax Breaks, OBBBA, tax, tax advisor, Texas CPA, The Burns Firm|

The recently enacted One Big Beautiful Bill Act (OBBBA) marks a significant step by President Trump and congressional Republicans toward dismantling several clean energy tax incentives. These tax breaks [...]

Act Soon: The OBBBA Ends Clean Energy Tax Breaks

August 12th, 2025|Categories: Burns Firm, Clean Vehicle Tax Credits, CPA, CPA Dallas, CPA near me, Dallas CPA, Energy Credits, Energy-Efficient Improvements, Home Energy Tax Credits, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Texas CPA, The Burns Firm|Tags: CPA, cpa near me, Dallas CPA, Energy Credits, Energy Credits Ending 2025, Energy Efficient Home Improvement Credit, Home Energy Tax Credit, OBBBA Ends Clean Energy Tax Breaks, One Big Beautiful Bill Act, Residential Clean Energy Credit, tax accountant, tax advisor, tax breaks, The Burns Firm|

The newly enacted One, Big, Beautiful Bill Act (OBBBA) represents a major move by President Trump and congressional Republicans to roll back a number of clean energy tax incentives [...]

Consider Tax-Saving Sec.1031 Exchange for Appreciated Real Property

June 26th, 2025|Categories: 1031 Exchange, 1031 Like-Kind Exchange, Appreciated Real Property, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Real Estate, SEC. 1031 Exchange, Tax, tax accountant, Tax Advisor, Tax Credits, Texas CPA, The Burns Firm|Tags: 1031 exchange, Appreciated Real Property, cpa near me, Dallas CPA, Sec. 1031 Exchange for Appreciated Real Property, tax, tax advisor, Tax and 1031 Exchange, tax savings, The Burns Firm|

Real estate values have surged in many areas. You might be considering selling an appreciated investment or business property that you think has topped out. But an outright sale [...]

Financial Relief for Families: The Benefits of the Child Tax Credit

February 20th, 2025|Categories: Burns Firm, Child Tax Credit, CPA, CPA Dallas, CPA near me, CPA Texas, CTC, Dallas CPA, Deductions, Tax, Tax Advisor, Tax Credits, Tax Cuts and Jobs Act, Tax Deductions, TCJA, Texas CPA, The Burns Firm|Tags: child tax credit, cpa near me, CTC, Dallas CPA, tax, tax accountant near me, tax advisor, tax credits, TCJA, Texas CPA, The Burns Firm|

The Child Tax Credit (CTC) has long been a valuable tax break for families with qualifying children. Whether you’re new to claiming the credit or you’ve benefited from it [...]

Adoption Tax Credits: Easing the Financial Journey of Parenthood

January 7th, 2025|Categories: Adoption, Adoption Tax Credits, Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Tax, Tax Advisor, Tax Credits, Texas CPA, The Burns Firm|

There are two tax breaks that help eligible parents offset the expenses of adopting a child. In 2025, adoptive parents may be able to claim a credit against their [...]