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

Federal Tax News for Individuals

February 24th, 2022|Categories: Accountant, Accounting, Burns Firm, Child Tax Credit, CPA, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Dependent Care credits, Donations, Gift Tax, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Preparation, Tax Return, Tax Withholding, tax write-offs, Taxpayer Certainty and Disaster Tax Relief Act (TCDTRA), The Burns Firm|Tags: 2022 federal tax news for individuals, adjustments for people over 60 on tax return, Form 1040, IRS cost of living adjustments, tax credits, tax deductions for individuals, tax filing, tax filing status, tax updates|

Your status for filing a federal tax return generally depends on your marital status as of December 31. However, more than one filing status may apply in certain situations. If [...]

Get ready for taxes: Here’s what’s new and what to consider when filing in 2022

January 25th, 2022|Categories: Accounting, Burns Firm, CARES Act, Child Tax Credit, Covid-19, COVID-Related Tax Relief Act (COVIDTRA), CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Donations, Estimated Tax, Estimated Tax Payments, Expenses, Gift Tax, IRS, Nanny Tax, Retirement, Services, Small Business, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, Tax Withholding, tax write-offs, Taxpayer Certainty and Disaster Tax Relief Act (TCDTRA), The Burns Firm, Withholding|Tags: 2022 tax, 2022 tax guidelines, 2022 taxes, accountant near me, cpa near me, IRS, North Texas accountant, tax accountant near me, tax filing, tax preparation, tax preparer near me|

Information from IRS.gov The IRS encourages taxpayers to get informed about topics related to filing their federal tax returns in 2022. These topics include special steps related to charitable contributions, [...]

Can Taxpayers Who Manage Their Own Investment Portfolios Deduct Related Expenses

August 17th, 2021|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, The Burns Firm|Tags: can I deduct investment related expenses, can i deduct my expenses if i manage my investment portfolio, CPA, CPA Dallas, Dallas, investment portfolio, investment-related expenses, tax, tax filing, The Burns Firm, trader vs investor|

Do you have significant investment-related expenses, including the cost of subscriptions to financial services, home office expenses and clerical costs? Under current tax law, these expenses aren’t deductible through 2025 [...]

Navigate the Tax Rules for Boats and RVs

March 11th, 2021|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation|Tags: accounting firm near me, can I, CPA, CPA Dallas, CPA firm near me, Dalals, tax filing, tax firm near me, tax preparation, tax preparation for 2020, tax return preparation, tax rules relating to RVs and Boats, The Burns Firm, who can prepare my personal tax return near me|

Will you be cruising the waters on your boat or camping out in your RV this year? Besides the pleasure you can enjoy through your personal property, you may also be [...]

Six Key Tax Breaks that Homeowners May Be Able to Claim

March 4th, 2021|Categories: Accounting, Burns Firm, Exemptions, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation|Tags: accounting firm near me, CPA Dallas, CPA firm near me, home owner tax breaks, homeowner tax breaks, tax deductions if you own a home, tax filing, tax filing deadline, tax return preparation, The Burns Firm|

The days of classic "tax shelters"— such as cattle breeding or oil drilling deals — are long gone. But at least one major tax shelter is still standing: Your home. [...]

Last-Minute Tips for Your 2020 Personal Return

February 18th, 2021|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: accounting firm near me, CPA Dallas, cpa near me, Dallas CPA, last minute filing tips, persoanl tax deductions, tax deductions for your personal return, tax filing, tax preparation, tax return filing tips, The Burns Firm, what can I deduct on my 2020 tax return|

Goodbye, 2020. Hello, tax season. Individual taxpayers have until April 15, 2021, to pay Uncle Sam for taxes owed for 2020. (Remember, you can extend the deadline for filing your return [...]

Getting A Divorce: How Should You File Your Tax Return?

July 14th, 2020|Categories: Accounting, Burns Firm, Services, Tax, Tax Deductions, Tax Return|Tags: CPA Dallas, form 1040 divorce and my tax return, i am getting a divorce and need to file a tax return, should we file a joint tax return if we are getting a divorce, tax filing, tax filing deadline, tax preparer in Dallas area, tax return preparation, The Burns Firm, what should my filing status be|

A divorced or divorcing couple's tax filing status is determined as of the last day of a tax year. A couple in the process of divorce may find that they [...]

Rx for Itemizing Medical Expenses

July 14th, 2020|Categories: Accounting, Burns Firm, Exemptions, Services, Tax, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: can I deduct medical expenses on my tax return, CPA Dallas, deducting expenses for paid support individuals, deductions, Form 1040, I need to file my personal tax return, July 15 tax filing deadline, maximum medical deduction per year, medical expense deductions, medical expenses on my tax return, tax deductions, tax filing, tax return, tax return preparer in Dallas, The Burns Firm|

Medical expenses can be costly — and they're not always covered by insurance. But there may be a silver lining: You may be able to claim an itemized deduction for [...]

The Tax Aspects of Selling Mutual Fund Shares

February 21st, 2020|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Return|Tags: 2019 form 1040 tax return preparation, 2019 tax return preparation, CPA, CPA Dallas, mutual fund, tax, tax aspects of selling mutual fund shares, tax consequences when you sell mutual fund, tax credits, tax deductions, tax filing, tax filing deadlines, Tax planning, tax preparation, The Burns Firm|

Perhaps you’re an investor in mutual funds or you’re interested in putting some money into them. You’re not alone. The Investment Company Institute estimates that 56.2 million households owned mutual [...]

Taxpayers Should Know the Difference Between Standard and Itemized Deductions

February 12th, 2020|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: 2019 tax return preparation, CPA, Dallas CPA, form 1040 deductions, itemized tax deduction, standard tax deduction, tax, tax accountant, tax and deductions, tax deductions, tax filing, tax return filing, The Burns Firm|

Information from irs.gov Should you file using the standard deduction, or should you itemize your deductions? Deductions reduce the amount of taxable income when filing a federal income tax return. [...]

Tax ID Theft

February 11th, 2020|Categories: Accounting, Burns Firm, C Corporation, Partnership, S Corporation, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Return|Tags: 2019 form 1040 preparation, CPA Dallas, file tax return early, how to stop tax ID theft, ID left, tax, tax filing, tax ID theft, tax preparation, tax return filing, tax return preparation, tax returns, The Burns Firm|

10 Tax Elections to Save Money on Your 2019 Tax Return

February 6th, 2020|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Return|Tags: 2019 tax return filing, 2019 tax return preparation, CPA Dallas, filing status, tax, tax credits to consider, tax deductions, tax elections, tax elections that may save you money for 2019, tax filing, The Burns Firm|

Here are ten important tax choices that individuals and small business owners can make this tax season. Tax Filing Status Tax filing status has numerous ramifications, so it's important to [...]

July 16th, 2019|Categories: Accounting, Burns Firm, Services, Tax, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: CPA, educators claim deductions for classroom expense, tax, tax deduction, tax filing, tax preparation, teachers can claim deductions, The Burns Firm|

Information courtesy of irs.gov Educators may be able to deduct unreimbursed expenses on their tax return. This deduction can put money right back in the pockets of eligible teachers [...]