tax return – The Burns Firm – Advisors of Complex Financial Matters

Filing jointly or separately as a married couple: What’s the difference?

February 8th, 2024|Categories: Accountant, accountant near me, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Estimated Tax, Estimated Tax Payments, Expenses, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Deductions, Tax Filing Status, Tax Preparation, Tax Return, Tax Return Filing, Tax Withholding, tax write-offs, Taxable Income, The Burns Firm|Tags: cpa near me, Dallas CPA, How to determine the best filing status for me, Should I file my tax return jointly or separate, tax, tax accountant near me, tax advisor, tax filing, tax filing status, tax preparer near me, tax return, Tax Return Preparations|

When you file your tax return, a tax filing status must be chosen. This status is used to determine your standard deduction, tax rates, eligibility for certain tax breaks [...]

Paperwork You Can Yoss After Filing Your Tax Return

April 11th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Services, Tax, tax accountant, Tax Advisor, Tax Return, Tax Return Filing, Tax Support Documents, The Burns Firm|Tags: CPA Dallas, cpa near me, Dallas CPA, how long do i need to keep my tax records, how long do I need to keep tax returns, tax, tax advisor, tax preparation, tax return, The Burns Fir, When can I destroy my tax returns and support documents|

Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain certain records. You may have to [...]

Many Parents Will Receive Advance Tax Credit Payments Beginning July 15

June 8th, 2021|Categories: Accounting, American Rescue Plan, American Rescue Plan Act, Burns Firm, Child Tax Credit, Covid-19, CPA Dallas, Dallas CPA, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: advance payment due date, advance tax credit payment, can I claim a child on my tax return, child tax credit, child tax credit and my tax return, child tax credit on my tax return, claiming children on tax return, CPA Dallas, Dallas CPA, do I qualify for advance payment for my child, how will I get my advance payment, tax accountant near me, tax preparer near me, tax return, The Burns Firm, what is a qualifying child, when will I get my advance payment for child tax credit, who can prepare my personal tax return|

Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in the American Rescue [...]

Ways to Fully Deduct Business-Related Meals

February 2nd, 2021|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Tax, Tax Credits, Tax Deductions|Tags: business tax return, business tax return meal deduction, business tax return preparation, can business meals be deducted, can I deduct business meals on my tax return, CPA Dallas, CPA in Dallas, cpa near me, Dallas CPA, tax deductions, tax firm near me, tax preparer in North Texas, tax return, tax return preparation, tax return preparation near me, The Burns Firm|

Restaurants have struggled mightily during the COVID-19 pandemic. Thankfully, they're specifically targeted for a new tax relief measure found in the massive Consolidated Appropriations Act (CAA), which became law on December [...]

Is EEOC Enforcement Reform Coming?

January 19th, 2021|Categories: Accounting, Burns Firm, Business, Services, Tax|Tags: Conciliation process reform, CPA Dallas, Dallas accounting firm, Dallas CPA firm, EEOC, tax, tax preparation, tax return, The Burns Firm|

Although the Equal Opportunity Employment Commission (EEOC) is intended to be nonpartisan, run by a five-member Commission, a president can appoint a new chairman and vice-chairman when their terms expire. Currently [...]

The Easiest Way to Survive An IRS Audit Is to Get Ready in Advance

November 5th, 2020|Categories: Accounting, Burns Firm, Tax|Tags: CPA Dallas, how do I prepare for an IRS audit, how to survive an IRS audit, IRS audit, tax, tax return, The Burns Firm, what happens during an IRS audit|

IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and [...]

Can Investors Who Manage Their Own Portfolios Deduct Related Expenses?

October 20th, 2020|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: are expenses deductible if I am self-employed, CPA Dallas, CPA in Dallas, cpa near me, Dallas CPA, deducting expenses on tax return, deductions on tax return, self-employed expenses, tax credits, tax deduction, Tax planning, tax preparation, tax return, The Burns Firm, who can deduct expenses on tax return|

In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut and Jobs [...]

After you file your tax return: 3 issues to consider

July 21st, 2020|Categories: Accounting, Burns Firm, Tax, Tax Preparation, Tax Return|Tags: amending a tax return, CPA Dallas, filing a tax return, how to file a tax return, should I save my tax return after filing, tax, tax return, tax return preparaion, tax return preparation, The Burns Firm|

The tax filing deadline for 2019 tax returns has been extended until July 15 this year, due to the COVID-19 pandemic. After your 2019 tax return has been successfully filed [...]

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 [...]

Hit the Ground Running: 7 Steps for New Business Owners

June 9th, 2020|Categories: Accounting, Burns Firm, Business, Buying a Business, C Corporation, Merger & Acquisition, Partnership, S Corporation, Services, Tax, Tax Preparation, Tax Return|Tags: Buying a business, CPA Dallas, how to start a new business, starting a new business, tax and a new business, tax breaks for a new business, tax return, The Burns Firm|

Running a new business can be a daunting endeavor. As soon as you form a business, you will face many important decisions, ranging from mundane to critical. While much of [...]

What is Your Taxpayer Filing Status?

December 10th, 2019|Categories: Accounting, Burns Firm, Services, Tax, Tax Planning, Tax Preparation|Tags: 2019 tax preparation, CPA Dallas, tax filing form 2019, tax filing head of household, tax filing married, tax filing single, tax filing status, tax return, tax return preparation, The Burns Firm|

For tax purposes, December 31 means more than New Year’s Eve celebrations. It affects the filing status box that will be checked on your tax return for the year. When [...]

April 25th, 2019|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, TCJA|Tags: CPA, Dallas CPA, entrepreneurs, entrepreneurs expenses on tax return, planning for tax, Schedule C, start-up costs and expenses on tax return, tax credits, tax deductions, tax preparation, tax return, The Burns Firm|

Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open [...]