Tips – The Burns Firm – Advisors of Complex Financial Matters

Federal Tax News for Individuals

September 18th, 2025|Categories: Burns Firm, Child Care Credit, Child Tax Credit, CPA, CPA Dallas, CPA near me, Dallas CPA, Dependent Care credits, Gig Economy, Health Savings Account, HSA, Tax, tax accountant, Tax Advisor, Tax Deductions, Tax Law, Texas CPA, The Burns Firm, Tips|Tags: Child Care Deductions, CPA, cpa near me, Dallas CPA, gig income, HSA Limits 2026, tax, tax advisor, Tax Debt, tax deductions, tax news for individuals, The Burns Firm|

Investing in a home brings tax benefits Purchasing a home is the most significant investment most people will make. Owning your home comes with valuable tax advantages that can [...]

Payroll Tax Implications of New Tax Breaks on Tips and Overtime

September 11th, 2025|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, Overtime, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Breaks, Tax Breaks on Overtime, Tax Breaks on Tips, Texas CPA, The Burns Firm, Tips|Tags: CPA, cpa near me, Dallas CPA, OBBBA, One Big Beautiful Bill Act, Overtime Income Deduction, tax, tax accountant, tax advisor, Tax Breaks on Overtime, Tax Breaks on Tips, Texas CPA, The Burns Firm, Tip Income Deduction|

Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new law changes that. Tip income deduction For [...]

Have employees who receive tips? Here are the tax implications

February 9th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Gig Economy, Services, Tax, tax accountant, Tax Advisor, The Burns Firm, Tips|Tags: Daily Tip Records, Reporting Tips to Employer, tax, Taxation of Tips, The Burns Firm, Tip Records, Tip Tax Credit, Tips, What is considered to be a tip?|

Many businesses in certain industries employ individuals who receive tips as part of their compensation. These businesses include restaurants, hotels and salons. Tip definition Tips are optional payments that customers [...]

Tax News for Individual in 2022

July 12th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, cryptocurrency, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, IRS, Tax, tax accountant, tax accountant near me, Tax Advisor, The Burns Firm, Tips|Tags: 1099-NEC, 2022 tax, 2022 tax for individuals, 2022 tax news, 2022 tax year, CPA, CPA Dallas, crypto, cryptocurrency, Dallas CPA, foreign housing cost exclusions, reporting earnings for gigs, reporting tips, tax, tax news, tax news in 2022, Tax planning, The Burns Firm|

Involved in Crypto? Here Are Some Tax Issues It's a simple "yes" or "no" question, but you must answer it on your Form 1040 or Form 1040-SR: At any time [...]