CPA Dallas

Sweeten Your Lender Relationships With Strong Financial Reporting

January 4th, 2024|Categories: Accountant, Accounting, Burns Firm, Business, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tx accountant, Financial Statements, Loans, Services, Tax, The Burns Firm|Tags: , , , , , , , , , , , , |

No matter what the economy, applying for business credit is no cake walk. Sure, it might be a little easier when interest rates are lower, and lenders really want to [...]

Does Your Business Have to Comply with New Corporate Reporting Rules?

December 21st, 2023|Categories: Beneficial Ownership Information, BOI, Corporate Transparency Act, CPA, CPA near me, CTA Rules, Dallas CPA, Financial Crimes Enforcement Network, FinCEN, IRS Reporting Rules, Tax, Tax Advisor, The Burns Firm|Tags: , , , , , , , , , , , , |

Your business may soon have to comply with new reporting requirements that take effect on January 1, 2024. Under the Corporate Transparency Act (CTA), enacted in 2021, certain companies will [...]

The “Nanny Tax” Must Be Paid For Nannies and Other Household Workers

December 19th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, household employees and tax, Household Worker, Nanny Tax, Services, Tax, tax accountant, Tax Advisor, The Burns Firm|Tags: , , , , , , , , , , |

You may have heard of the “nanny tax.” But if you don’t employ a nanny, you may think it doesn’t apply to you. Check again. Hiring a housekeeper, gardener [...]

Act Now to Leverage the Gift Tax Exclusion Before Year End

December 13th, 2023|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Gift Tax, Tax, tax accountant, Tax Advisor, Tax Planning, The Burns Firm|Tags: , , , , , , , , , , , , |

The gift tax exclusion is among the most valuable tools available to transfer assets to family and other loved ones without ending up with an unwelcome tax bill for the [...]

The Tax Implications of Renting Out a Vacation Home

October 12th, 2023|Categories: Accountant, accountant near me, Accounting, Business, CPA, CPA Dallas, CPA near me, Dallas CPA, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, tax write-offs, The Burns Firm, Vacation Home|Tags: , , , , , , , , , , , |

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains or in a resort area, [...]

Casualty Loss Tax Deductions May Help Disaster Victims in Certain Cases

October 11th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, Casualty Loss, CPA, CPA Dallas, CPA near me, Dallas CPA, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Planning, Tax Return, The Burns Firm|Tags: , , , , , , , , |

This year, many Americans have been victimized by wildfires, severe storms, flooding, tornadoes, and other disasters. No matter where you live, unexpected disasters may cause damage to your home [...]

What’s the Proper Tax Treatment for Intangible Assets?

October 3rd, 2023|Categories: Accountant, Accounting, Assets, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Intangible Assets, Services, Tax, Tax Advisor, Tax Law, The Burns Firm|Tags: , , , , , , , , |

Intangible assets have become increasingly vital to the value of many companies. While their benefits may be obvious to business owners, their tax treatment often isn't. Taxpayers may be surprised [...]

Investment Swings: What’s the Tax Impact?

September 19th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Investments, Tax, tax accountant, Tax Advisor, The Burns Firm|Tags: , , , , , , , , |

If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the final [...]

Plan Now For Year-End Gifts With the Gift Tax Annual Exclusion

September 14th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Gift Tax, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, Year-End Tax Planning|Tags: , , , , , , , , , , , , |

Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By [...]

Businesses: It’s Time to Get Ready for the New Corporate Transparency Reporting Rules

September 12th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, Corporate Transparency Act, CPA, CPA Dallas, CPA near me, Dallas CPA, Tax, Tax Advisor, Tax Law, The Burns Firm|Tags: , , , , , , |

Attention: Your business may soon have to meet new reporting requirements that take effect on January 1, 2024. Under the Corporate Transparency Act (CTA), which was enacted in 2021, certain companies [...]

Selling Your Home for a Big Profit? Here Are the Tax Rules

September 5th, 2023|Categories: Accountant, Accounting, Burns Firm, Capital Gains Tax, CPA, CPA Dallas, CPA near me, Dallas CPA, NIIT, Selling A Home, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, The Burns Firm|Tags: , , , , , , , , , , , |

Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in [...]

Can You Deduct Student Loan Interest On Your Tax Return?

August 24th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Loans, Services, Tax, tax accountant, Tax Advisor, Tax Deductions, The Burns Firm|Tags: , , , , , , , |

The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether you [...]

Pocket a Tax Break for Making Energy-Efficient Home Improvements

August 22nd, 2023|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Deductions, Energy-Efficient Improvements, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, Tax Return Filing, tax write-offs, The Burns Firm|Tags: , , , , , , , , , , , , , |

An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred you to think about making your home [...]

A Tax-Smart Way to Develop and Sell Appreciated Land

August 17th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, S Corporation, Tax, tax accountant, Tax Advisor, Tax Planning, The Burns Firm|Tags: , , , , , , , , , |

Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels, and sell them off for a hefty profit, it [...]

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