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

Quadrupled SALT deduction limit means more taxpayers will benefit from itemizing on their 2025 returns

February 19th, 2026|Categories: Accountant, accountant near me, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Deductions, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, SALT Deduction Cap, SALT Deductions, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Filing Status, Tax Preparation, tax preparer near me, Tax Return Filing, Texas CPA, The Burns Firm|Tags: CPA Dallas, cpa near me, Dallas CPA, Increased Limit on SALT Deduction, Itemizing vs Standard Deduction, OBBBA, SALT deductions, tax, tax advisor, tax return deductions, tax return preparation, Texas CPA, The Burns Firm|

An important decision to make when filing your individual income tax return is whether to claim the standard deduction or itemize deductions. A change under the One Big Beautiful Bill [...]

You Don’t Have to be in Business to Deduct Certain Vehicle Expenses

October 31st, 2024|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Deductions, Services, Tax, tax accountant, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm, Vehicle Deductions, Vehicle Expenses|Tags: cpa near me, Dallas CPA, tax, tax advisor, tax deductions, tax return deductions, Texas CPA, The Burns Fir, Vehicle Deductions, Vehicle Expenses|

When you think about tax deductions for vehicle-related expenses, business driving may come to mind. However, businesses aren’t the only taxpayers that can deduct driving expenses on their returns. [...]

If You Run a Business From Home, You Could Qualify For Home Office Deductions

March 9th, 2021|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: 2020 tax deductions, accountant near me, business deductions, cpa near me, home office tax deductions, run a business from home, tax preparer near me, tax prepartion, tax return deductions, tax return preparation, The Burns Firm, What are the home office deductions for tax year 2020, what can I deduct if I run a business from home, what can i deduct on my business tax return, what can i deduct on my personal tax return|

During the COVID-19 pandemic, many people are working from home. If you’re self-employed and run your business from your home or perform certain functions there, you might be able to [...]

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 [...]

One Reason to File Your 2020 Tax Return Early

January 21st, 2021|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Preparation, Tax Return|Tags: accounting firm near me, CPA Dallas, Dallas CPA, file your tax return early, filing my tax return, reasons to file tax return early, should I file my tax return early, tax credits, tax firm near me, tax preparer near me, tax return deductions, tax return preparation, The Burns Firm|

The IRS announced it is opening the 2020 individual income tax return filing season on February 12. (This is later than in past years because of a new law that [...]

Vehicle-Expense Deduction Ins and Outs for Individual Taxpayers

March 21st, 2019|Categories: Burns Firm, Business, Services, Tax, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: CPA, Dallas CPA, tax, tax deductions, tax return deductions, TCJA, The Burns Firm, vehicle deductions on tax return, Vehicle expense|

It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the Tax Cuts and Jobs Act (TCJA) might reduce your deduction compared [...]