Eight Tips for Taxpayers Who Receive an IRS Notice
Courtesy of IRS.gov Every year the Internal Revenue Service sends millions of letters and notices to taxpayers, but that doesn’t mean you need to worry. Here are eight things every [...]
Happy New Year!
Jason Rodrigue and Denis Burns take a spin around DFW to celebrate the New Year!
Should you increase your retirement plan contributions in 2014?
With the new year upon us, it’s time to start thinking about 2014 retirement plan contributions. Contributing the maximum you’re allowed to an employer-sponsored defined contribution plan is likely a [...]
Widow’s guide to Social Security benefits
Story courtesy of: Jane Young, Credit.com Lots of questions remain after a spouse dies, including what happens to Social Security. Make sure you know what to do. As a Certified [...]
Avoid the year-end vacation-time scramble
Every December are your employees scrambling to use up their vacation time because of limits on what they can roll over to the new year? Or do you allow rollovers [...]
Happy Holidays
The Burns Firm, Ltd. wishes you and yours a Happy Holiday!
Why the self-employed should consider setting up a retirement plan before year end
For 2013, the maximum IRA contribution is $5,500 — $6,500 if you’re age 50 or older on Dec. 31. (The maximum IRA contribution or deduction may be reduced or eliminated [...]
Three Year-End Tax Tips to Help You Save
Couresy of irs.gov Although the year is almost over, you still have time to take steps that can lower your 2013 taxes. Now is a good time to prepare for [...]
Will your donations be more powerful this year?
Maybe. Deductions are more valuable when tax rates are higher, and higher-income taxpayers face higher rates in 2013. But the return of the itemized deduction reduction could make your donation [...]
Year-end tax planning for your investments
While tax consequences should never drive investment decisions, it’s critical that they be considered — especially this year: Higher-income taxpayers may face more taxes on their investment income in the [...]
Smart timing of business income and expenses can save tax — or at least defer it!
By projecting your business’s income and expenses for 2013 and 2014, you can determine how to time them to save — or at least defer — tax. If you’ll be [...]
Beware of the AMT when doing year-end tax planning
As year end approaches, you may be trying to accelerate deductible expenses into 2013 to reduce, or at least defer, tax. But you must beware of the alternative minimum tax [...]
Smart timing of business income and expenses can save tax — or at least defer it!
By projecting your business’s income and expenses for 2013 and 2014, you can determine how to time them to save — or at least defer — tax. If you’ll be [...]
Don’t Skimp on S-Corporation Salaries
S-Corporation owners often take modest salaries as a tax-saving strategy. By distributing most of the corporation’s profits in the form of dividends rather than wages, the company and its owners [...]
How to use your home equity
Article By Melinda Fulmer of MSN Real Estate Home values are creeping back up, and equity is making a comeback. Here's what to do with the money your home is [...]