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About Denis Burns

Denis Burns is a New Mexico native. Prior to establishing The Burns Firm, Mr. Burns worked exclusively in the Federal Income Tax division of a “Big Four” accounting firm. His experience includes tax planning and compliance for corporations, individuals, trusts, estates and partnerships in a wide variety of industries.

It’s Important to Understand How Taxes Factor Into M&A Transactions

September 26th, 2023|Categories: Accountant, Burns Firm, Business Valuation, CPA, CPA Dallas, CPA near me, Dallas CPA, M&A, Merger & Acquisition, Sell Business, Selling a Business, Services, Tax, tax accountant, Tax Advisor, Tax Law, The Burns Firm|Tags: , , , , , , |

In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging with or acquiring another business, it’s important to understand how [...]

IRS Orders an Immediate Stop to New Employee Retention Tax Credit Processing

September 20th, 2023|Categories: Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, CPADallas, Dallas CPA, ERC, ERTC, IRS, Services, Tax, Tax Advisor, The Burns Firm|Tags: , , , , , , |

After receiving a deluge of improper Employee Retention Tax Credit (ERTC) claims, the IRS recently announced an immediate moratorium through at least December 31 on processing new claims for the pandemic [...]

Investment Swings: What’s the Tax Impact?

September 19th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Investments, Tax, tax accountant, Tax Advisor, The Burns Firm|Tags: , , , , , , , , |

If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the final [...]

Plan Now For Year-End Gifts With the Gift Tax Annual Exclusion

September 14th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Gift Tax, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, Year-End Tax Planning|Tags: , , , , , , , , , , , , |

Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By [...]

Businesses: It’s Time to Get Ready for the New Corporate Transparency Reporting Rules

September 12th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, Corporate Transparency Act, CPA, CPA Dallas, CPA near me, Dallas CPA, Tax, Tax Advisor, Tax Law, The Burns Firm|Tags: , , , , , , |

Attention: Your business may soon have to meet new reporting requirements that take effect on January 1, 2024. Under the Corporate Transparency Act (CTA), which was enacted in 2021, certain companies [...]

Crypto: What Taxpayers Need to Know

September 12th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Crypto, cryptocurrency, Dallas CPA, Services, Tax, tax accountant, Tax Advisor, The Burns Firm|Tags: , , , , , , |

Cryptocurrencies have gone mainstream. You can now invest in them and use them to buy and sell many products and services. However, crypto transactions have important federal tax implications that [...]

Guaranteeing a loan to your corporation? There may be tax implications

September 7th, 2023|Categories: Accountant, Accounting, Burns Firm, Business, Business Loan, C Corporation, CPA, CPA Dallas, CPA near me, Dallas CPA, Loans, Services, Tax, Tax Advisor, The Burns Firm|Tags: , , , , , , |

Let’s say you decide to, or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser, or indemnitor of a debt obligation [...]

Selling Your Home for a Big Profit? Here Are the Tax Rules

September 5th, 2023|Categories: Accountant, Accounting, Burns Firm, Capital Gains Tax, CPA, CPA Dallas, CPA near me, Dallas CPA, NIIT, Selling A Home, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, The Burns Firm|Tags: , , , , , , , , , , , |

Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in [...]

Delinquent Taxpayers May Experience Passport Issues

August 29th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Delinquent Tax, Services, Tax, tax accountant near me, Tax Advisor, Tax Penalty, Tax Planning, The Burns Firm|Tags: , , , , , , , |

Let's say a person is planning to take a plane trip out of the country. And further suppose that individual owes the federal government a fair amount of back taxes. [...]

Can You Deduct Student Loan Interest On Your Tax Return?

August 24th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Loans, Services, Tax, tax accountant, Tax Advisor, Tax Deductions, The Burns Firm|Tags: , , , , , , , |

The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether you [...]

Pocket a Tax Break for Making Energy-Efficient Home Improvements

August 22nd, 2023|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Deductions, Energy-Efficient Improvements, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, Tax Return Filing, tax write-offs, The Burns Firm|Tags: , , , , , , , , , , , , , |

An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred you to think about making your home [...]

A Tax-Smart Way to Develop and Sell Appreciated Land

August 17th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, S Corporation, Tax, tax accountant, Tax Advisor, Tax Planning, The Burns Firm|Tags: , , , , , , , , , |

Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels, and sell them off for a hefty profit, it [...]

What Can You Do to Lower Your 2023 Tax Obligation?

August 15th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Donations, Estimated Tax, Exemptions, Expenses, Services, Tax, tax accountant, tax accountant near me, Tax Deductions, Tax Filing Status, Tax Planning, Tax Preparation, Tax Return, Tax Return Filing, tax season tips, Tax Withholding, tax write-offs, Withholding|Tags: , , , , , , , , |

It's hard to believe that 2023 is already half over. Although summer is a time for vacations and relaxing in the backyard, you can't afford to take a break from [...]

Be Sure Your Due Diligence Is Thorough

August 10th, 2023|Categories: Accountant, Accounting, Burns Firm, Business, Business Deductions, Business Write-offs, Buying a Business, Countdown to Transition, CPA, CPA Dallas, CPA near me, CPADallas, Dallas CPA, Deductions, Due Diligence, M&A, Merger & Acquisition, Sell Business, Selling a Business, Services, Tax Advisor, The Burns Firm|Tags: , , , , , , |

Comprehensive due diligence is essential if your business plans to acquire or merge with another organization. Without one, complicated implications could arise with the potential to significantly affect the profits [...]

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