tax breaks – Page 2 – The Burns Firm – Advisors of Complex Financial Matters

Depreciation-related Breaks on Business Real Estate: What You Need to Know When You File Your 2018 Return

January 31st, 2019|Categories: Accounting, Burns Firm, Business, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: Accounting, CPA, depreciation related tax breaks, tax, tax breaks, tax credits, tax filing, tax return preparation, TCJA, The Burns Firm|

Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) [...]

A Refresher on Major Tax Law Changes for Small-Business Owners

January 8th, 2019|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, TCJA|Tags: business taxes, CPA, deductions, preparing for 2019, tax, tax breaks, tax filing, Tax law changes, tax law changes for small businesses, Tax planning, tax return preparation, TCJA, The Burns Firm|

The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. [...]

Back-to-School Time Means a Tax Break for Teachers

September 4th, 2018|Categories: Accounting, Tax, Tax Credits, Tax Planning, Tax Preparation, Tax Return|Tags: back to school teacher credits, tax, tax breaks, tax credits, Tax planning, tax preparation, tax return preparation, teacher credits, The Burns Firm|

When teachers are setting up their classrooms for the new school year, it’s common for them to pay for a portion of their classroom supplies out of pocket. A special [...]