Tax Withholding – The Burns Firm – Advisors of Complex Financial Matters

Federal Tax News for Individuals

March 26th, 2024|Categories: 401K, Accountant, Adoption, Burns Firm, Charitable Donations, CPA, CPA Dallas, CPA near me, Dallas CPA, Tax, Tax Advisor, Tax Withholding, The Burns Firm, Withholding|Tags: 401K contributions, 401K contributions for 2024, Charity Scams, cpa near me, Dallas CPA, tax, tax advisor, Tax Benefits for Adoption, tax news for individuals, Tax planning, The Burns Firm, Withholding, Withholding Check|

New 401(k) contribution limits for 2024 In 2024, individuals will be able to contribute more to their 401(k) plans, up to $23,000. The same is true for 403(b) plans [...]

Filing jointly or separately as a married couple: What’s the difference?

February 8th, 2024|Categories: Accountant, accountant near me, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Estimated Tax, Estimated Tax Payments, Expenses, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Deductions, Tax Filing Status, Tax Preparation, Tax Return, Tax Return Filing, Tax Withholding, tax write-offs, Taxable Income, The Burns Firm|Tags: cpa near me, Dallas CPA, How to determine the best filing status for me, Should I file my tax return jointly or separate, tax, tax accountant near me, tax advisor, tax filing, tax filing status, tax preparer near me, tax return, Tax Return Preparations|

When you file your tax return, a tax filing status must be chosen. This status is used to determine your standard deduction, tax rates, eligibility for certain tax breaks [...]

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 [...]

4 Ideas That May Help Reduce Your 2023 Tax Bill

December 7th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, CPADallas, Dallas CPA, Dallas tax return preparer, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Cuts, Tax Depreciation, Tax Filing Status, Tax Forms, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, Tax Return Filing, tax season tips, Tax Support Documents, Tax Withholding, The Burns Firm, Year-End Tax Planning|Tags: 2023 Tax Planning, CPA, cpa near me, how can I reduce my tax bill, Reduce 2023 Tax Bill, tax, tax accountant, tax advisor, tax return preparation, The Burns Firm|

If you’re concerned about your 2023 tax bill, there may still be time to reduce it. Here are four quick strategies that may help you trim your taxes before year [...]

Year-End Tax Planning Tips for Individuals

November 9th, 2023|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Tax, tax accountant, Tax Advisor, Tax Credits, Tax Cuts, Tax Deductions, Tax Depreciation, Tax Forms, Tax Penalty, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, Tax Return Filing, Tax Withholding, tax write-offs, The Burns Firm, Year-End Tax Planning|Tags: 2023 Year-End Tax Planning, tax, tax advisor, Tax planning, The Burns Firm, year end tax planning|

As the holidays approach, it's time to consider tax planning moves that will help lower this year's tax bill, as well as set you up for tax savings in future [...]

What Can You Do to Lower Your 2023 Tax Obligation?

August 15th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Donations, Estimated Tax, Exemptions, Expenses, Services, Tax, tax accountant, tax accountant near me, Tax Deductions, Tax Filing Status, Tax Planning, Tax Preparation, Tax Return, Tax Return Filing, tax season tips, Tax Withholding, tax write-offs, Withholding|Tags: 2023 Tax, cpa near me, Dallas CPA, How do I lower my tax liability for 223, How to lower taxes I will pay for 2023, Lower Your Tax Liability, tax advisor, The Burns Firm, Ways to Lower My 2023 Tax Obligation|

It's hard to believe that 2023 is already half over. Although summer is a time for vacations and relaxing in the backyard, you can't afford to take a break from [...]

Resist the Urge to Purge after Filing Your 2022 Tax Return

May 9th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Cuts, Tax Deductions, Tax Filing Status, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, Tax Return Filing, tax season tips, Tax Withholding, The Burns Firm|Tags: CPA Dallas, cpa near me, How long do I need to hang onto my tax files, How long to keep records, Purging Documents, tax, tax advisor, Tax Filing support documents, The Burns Firm|

The statute of limitations for the IRS to audit your tax return is typically three years. It begins on the later of: 1) the due date for your tax return [...]

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 [...]

Tax News for Individuals

September 13th, 2022|Categories: 401K, Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, CPA75248, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Delinquent Tax, Estimated Tax, Estimated Tax Payments, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Preparation, tax preparer near me, Tax Return, tax season tips, Tax Withholding, The Burns Firm|Tags: 401K early withdraw, CARES Act. CPA Dallas, CPA 75248, CPA neaer me, CPA The Burns Firm, do I need to make estimated tax payments, early withdrawal penalty, estimated tax payments, individual tax, tax accountant near me, tax gap, tax items to be aware of for individuals, tax news for individuals, tax preparer near me, The Burns Firm, what is the tax gap, when do i need to make estimated tax payments|

If You Make Estimated Tax Payments, a Deadline Is Coming Up If you pay quarterly estimated taxes, circle this date on your calendar: September 15. That's the payment due [...]

Three Tax Breaks for Small Businesses

August 16th, 2022|Categories: Accountant, accountant near me, Accounting, Business, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Expenses, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, tax season tips, Tax Withholding, tax write-offs, The Burns Firm, Year-End Tax Planning|Tags: CPA Dallas, cpa near me, Dallas CPA, Dallas CPA near me, QBI deduction, small business, small business tax breaks, tax breaks, tax breaks for my small business, tax breaks for small business 2022, tax preparer near me, The Burns Firm, what is a QBI deduction|

Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. QBI deduction For [...]

Is Your Withholding Adequate? Here’s How to Check

August 9th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Tax Withholding, The Burns Firm, Withholding|Tags: CPA Dallas, CPA neaer me, Dallas CPA, Dallas CPA near me, how do I know if I am withholding enough from my paycheck, how to calculate amount to withhold, is my withholding adequate, tax accountant Dallas, tax accountant near me, The Burns Firm, Withholding, withholding calculator|

When you filed your federal tax return this year, were you surprised to find you owed money? You might want to change your withholding so that this doesn’t happen [...]

Five Tax Implications of Divorce

July 15th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Gift Tax, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, Tax Withholding, The Burns Firm|Tags: alimony or support payments in a divorce, business interests and divorce, child support and divorce, CPA Dallas, CPA with divorce experience, Dallas CPA, divorce and tax, pension benefits and a divorce, tax implications of divorce, tax preparer, The Burns Firm|

Are you in the early stages of divorce? In addition to the tough personal issues that you’re dealing with, several tax concerns need to be addressed to ensure that taxes [...]

Your Estate Plan: Don’t Forget About Income Tax Planning

June 30th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Estate Planning, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, Tax Withholding, tax write-offs, The Burns Firm|Tags: CPA Dallas, Dallas CPA, Estate planning, estate planning and tax consequences, gifts that use the annual exclusion, income tax planning, Tax planning, tax preparer near me, The Burns Firm|

As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Before 2011, a much [...]

Thinking About Converting Your Home Into a Rental Property?

May 5th, 2022|Categories: Accountant, Accounting, can I convert my home to a rental, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, passive activity rule, Rental Property, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Preparation, Tax Withholding, tax write-offs, The Burns Firm, Vacation Home|

In some cases, homeowners decide to move to new residences, but keep their present homes and rent them out. If you’re thinking of doing this, you’re probably aware of the [...]

Things to Consider Once Your Tax Return Is Filed

April 26th, 2022|Categories: Accountant, Accounting, Burns Firm, Business, CPA, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Services, Tax, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, Tax Withholding, tax write-offs, The Burns Firm, Withholding, Year-End Tax Planning|Tags: can i amend my tax return, CPA Dallas, cpa near me, Dallas CPA, how do I check the status of my refund, how long do i need to keep my tax records, how long save tax documents once return is filed, howmuch does it cost to have a cpa prepare my tax return, i forgot to include some income on tax return can I amend it, tax filer near me, tax filing deadline, tax preparation near me, tax preparer near me, The Burns Firm, where is my refund|

The tax filing deadline for 2021 tax returns was April 18 this year. After your 2021 tax return has been successfully filed with the IRS, there may still be some [...]