North Texas CPA – Page 2 – The Burns Firm – Advisors of Complex Financial Matters

Beware: Remote Work May Complicate Your Income Taxes

March 24th, 2022|Categories: Accountant, Accounting, CPA, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Employee Retention Tax Credit, Expenses, Services, Small Business, Tax, Tax Credits, Tax Deductions, Tax Preparation, Tax Return, The Burns Firm|Tags: convenience tax rule, CPA, CPA Dallas, CPA TExas, North Texas accountant, North Texas CPA, remote work may complicate your income tax return, rules for working from home, rules related to the taxation of remote workers, tax and remote workers, tax preparation in Dallas, tax preparer in DFW, tax preparer near me, tax rules relating to remote workers, The Burns Firm|

Remote work has become more common in recent years, and the COVID-19 pandemic has resulted in employers realizing that many jobs can be done from home. Some remote workers even work [...]

Smooth Sailing: Tips to Speed Processing and Avoid Hassles This Tax Season

February 22nd, 2022|Categories: Accounting, Burns Firm, Child Tax Credit, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Delinquent Tax, Dependent Care credits, Donations, Estimated Tax, Estimated Tax Payments, Expenses, Gift Tax, Healthcare & Retirement, Lifetime Learning Credit, Nanny Tax, Retirement, Scholarships, Services, Social Security, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, tax write-offs, Taxpayer Certainty and Disaster Tax Relief Act (TCDTRA), TCJA, The Burns Firm|Tags: 1099, 2021 tax year tips, CPA Dallas, Dallas CPA, form 1040 tax preparer, North Texas accountant, North Texas accounting firm, North Texas CPA, North Texas CPA firm, tax preparer near me, tax return preparation, tax tips, tax tips to avoid hassles this tax season, Texas CPA, The Burns Firm, W2|

The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid [...]

Avoiding the 10% Penalty On Early IRA Withdrawals

April 15th, 2021|Categories: IRA, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning|Tags: are there exceptions to IRA penalty, can I withdrawal from my IRA, CPA Dallas, Dallas CPA, IRA early withdrawal penalties, North Dallas CPA, North Texas CPA, penalty-free withdrawals form an IRA, rules for withdrawal from IRA, tax on IRA withdrawal, tax preparer near me, The Burns Firm, will i get a penalty for early withdrawal frommy IRA|

For one reason or another, you may need to take some money out of an IRA before reaching retirement. You can withdraw money from an IRA at any time and [...]

Who Qualifies for “Head of Household” Tax Filing Status?

April 6th, 2021|Categories: Accounting, CPA Dallas, Dallas CPA, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Preparation, Tax Return|Tags: CPA Dallas, Dallas CPA, Dallas tax return preparer, head of household filing, North Dallas tax preparer, North Dallas tax return preparer, North Texas accounting firm, North Texas CPA, tax, tax filing status, tax preparer near me, The Burns Firm, what is my filing status, which filing status is best for me|

When you file your tax return, you must check one of the following filing statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Who qualifies [...]

4 Important Changes on Your 2020 Tax Return

March 11th, 2021|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Return|Tags: 2020 tax return, 2020 tax return preparation, changes to your 2020 tax return, charitable donations are limited, CPA Dallas, Dallas CPA, do I need to put stimulus payments on my tax return for 2020, if you don't itemize, North Texas CPA, North Texas tax return preparer, tax preparation, tax preparer near me, The Burns Firm|

Tax season has started. Your tax professional is ready to prepare your 2020 federal and state returns — but are you ready? The pandemic has led to several changes to the [...]

How Can Business Owners Lower Last Year’s Tax Bill?

March 2nd, 2021|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation|Tags: accounting firm near me, are there any covid 19 relief provisions, can I claim 100% first year bonus depreciation, covi-19 relief provisions, CPA Dallas, cpa near me, Dallas CPA, how can business owners lower tax bill, how do I file my business tax return, North Texas CPA, tax filing for my business, The Burns Firm, who can prepare my business tax return|

Good news! Business taxpayers may still be able to take actions to lower their federal income tax liabilities for 2020, as well as for future years. Consider these ideas before you [...]

New Appropriations Act Included Disaster Tax Relief

January 28th, 2021|Categories: Burns Firm|Tags: accounting firm near me, CPA Dallas, cpa near me, Dallas CPA, Deduction rules for personal qualified disaster casualty losses, disaster relief, New Appropriations Act Included Disaster Tax Relief, new tax laws for 2020 tax year, new tax laws for 2021, North Texas CPA, tax disaster relief, tax return deductions, tax return preparation, tax return preparer near me, The Burns Firm|

You've probably heard about the massive new Consolidated Appropriations Act (CAA), which provides direct payments to eligible individuals and contains other provisions to help mitigate the effects of COVID-19. But it also [...]

How Series EE Savings Bonds Are Taxed

December 15th, 2020|Categories: Accounting, Burns Firm, Services, Tax, Tax Deductions|Tags: CPA Dallas, Dallas accounting firm, North Dallas CPA, North Texas accounting firm, North Texas CPA, saving bonds, Series EE saving bonds, Series EE saving bonds and tax, tax, tax on series EE saving bonds, tax preparation, tax return preparation, The Burns Firm|

Many people have Series EE savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself and put [...]

Take Advantage of a “Stepped-Up Basis” When You Inherit Property

August 13th, 2020|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning|Tags: CPA Dallas, fair market value rules for inherited property, inherit property, North Texas CPA, stepped-up basis, stepped-up basis on inherited property, tax, tax on inherited property, Tax planning, The Burns Firm|

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. Fair market value rules Under the fair market [...]