small business – The Burns Firm – Advisors of Complex Financial Matters

Selecting a Tax Accounting Method for Your Small Business

July 21st, 2026|Categories: Accountant, accountant near me, Accounting, Accounting Methods, Accrual Accounting Method, Burns Firm, Business, Business Recordkeeping, Cash Accounting Method, Cash vs Accual, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Small Business, Small Business Tax Planning, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning for Businesses, Texas CPA, The Burns Firm|Tags: accountant near me, Accounting Method for Small Business, accounting methods, CPA, cpa near me, Dallas CPA, North Texas CPA, small business, tax, tax accountant, tax accountant near me, tax advisor, Texas CPA, The Burns Firm|

Small business owners must answer an important question: Should we use the cash or accrual accounting method for federal income tax purposes? Larger entities are required to use the [...]

What’s a “small business,” and why does it matter?

June 4th, 2026|Categories: Accountant, accountant near me, Accounting, Accounting Methods, Burns Firm, Business, Cash Accounting Method, Cash vs Accual, CPA, CPA Dallas, CPA near me, Dallas CPA, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Texas CPA, The Burns Firm|Tags: accounting method, Business Tax Accountant, Cash vs Accrual, CPA, cpa near me, Dallas CPA, Is My Business Considered a Small Business, small business, tax, tax accountant, tax accountant near me, tax advisor, Texas CPA, What Makes a Business a "Small Business"|

Although your business may seem big to you, you may wonder how the government classifies it for tax purposes. If your organization qualifies as a “small business,” you may [...]

How to Pay Retiree Health Costs Tax-Free

April 21st, 2026|Categories: 401(h), Accountant, accountant near me, Burns Firm, Business, CPA, CPA Dallas, CPA near me, Dallas CPA, Healthcare & Retirement, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Texas CPA, The Burns Firm|Tags: 401(h) Plan, CPA, cpa near me, Dallas CPA, How to Pay Retiree Health Costs Tax-Free, medical expenses, retiree health costs, small business, tax, tax advisor, The Burns Firm|

If you own a small business, you may have set up a defined benefit pension plan for you and your employees that will provide a specific amount of retirement income [...]

Avoid Mixing Personal and Business Accounts

January 20th, 2026|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, Business Expense Deductions, CPA, CPA Dallas, CPA near me, Dallas CPA, Tax, tax accountant, tax accountant near me, Tax Advisor, Texas CPA, The Burns Firm|Tags: accountant near me, Accounting, Accounting Method for Businesses, Business Accounting, CPA, cpa near me, Dallas accountant, Dallas CPA, Personal Account vs Business Account, Separate Business from Personal Expenses, small business, tax, tax advisor, Texas CPA, The Burns Firm|

Small business owners and independent contractors are always looking for ways to save time. If you run your own business (or want to start one), it might seem tempting [...]

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 New Law Includes Favorable Changes for Depreciating Eligible Assets

July 29th, 2025|Categories: Accountant, Assets, Burns Firm, Business, Business Assets, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Depreciating Business Assets, OBBBA, One Big Beautiful Bill Act, Small Business, Tax, Tax Advisor, Tax Law, Tax Law Changes, Texas CPA, The Burns Firm|Tags: 2025 Tax Law, cpa near me, Dallas CPA, Depreciating Business Assets, New Tax Laws 2025, OBBBA, One Big Beautiful Bill Act, small business, Small Business Taxpayer, tax, tax advisor, tax law, The Burns Firm|

The One Big Beautiful Bill Act (OBBBA) includes a number of beneficial changes that will help small business taxpayers. Perhaps the biggest and best changes are liberalized rules for [...]

Planning a Graceful and Profitable Exit from Your Small Business

October 31st, 2023|Categories: Accountant, Accounting, Burns Firm, Business, Business Valuation, Buying a Business, CPA, CPA Dallas, CPA near me, Dallas CPA, Due Diligence, M&A, Sell Business, Selling a Business, Services, Small Business, Tax, tax accountant, Tax Advisor, The Burns Firm|Tags: business valuation, M&A, Planning An Exit from Your Small Business, Planning to sell a business, Selling a business, Selling a Small Business, small business, tax, tax advisor, Tax Implications of Selling a Business, The Burns Firm|

At some point, every business owner leaves the company, either voluntarily through retirement or otherwise. Some businesses will outlive their founders. Others can't survive without the continued involvement of a [...]

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 [...]

Tax-Free Gain Rollovers for QSBC Stock Sales

August 2nd, 2018|Categories: Accounting, Burns Firm, Business, Services, Tax, Tax Credits, Tax Return, TCJA|Tags: Planning, QSBC Stock sales, qualified small business, small business, stock, tax, tax credits, tax return, tax-free gain, TCJA, The Burns Firm|

Sales of qualified small business corporation (QSBC) stock may potentially be eligible for a gain exclusion. But that's not all. There's also a tax-free stock sale gain rollover privilege — similar [...]

New Tax Law Boosts Appeal of Qualified Small Business Corporations

July 26th, 2018|Categories: Accounting, Burns Firm, Business, Tax, Tax Planning, TCJA|Tags: 2018 tax planning, Accounting, business, business stock sale, invest, QSBC, sell your stock, small business, small business corporation, stock, tax, tax-free gain, The Burns Firm|

Would you like to invest in a business that allows you to subsequently sell your stock tax-free? That may be possible with qualified small business corporation (QSBC) stock that's acquired [...]