Burns Firm – Page 35 – The Burns Firm – Advisors of Complex Financial Matters

Capital Gains Rates: The Long and Short Of It

November 21st, 2019|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning|Tags: 2019 tax breaks, 2019 tax return preparation, Capital Gains, capital gains rates, CPA Dallas, tax, Tax planning, The Burns Firm|

Don’t Overlook a Roth IRA if You Are Self-Employed

November 19th, 2019|Categories: Burns Firm, Business, Services, Tax, Tax Planning|Tags: CPA, Dallas CPA, ROTH IRA, self-employed, tax, The Burns Firm|

Saving for retirement on a tax-advantaged basis should be on nearly everyone's financial "to do" list. Making contributions to a Roth IRA is one tax-wise way to save, because you [...]

IRA Charitable Donations are an Alternative to Taxable Required Distributions

November 19th, 2019|Categories: Accounting, Burns Firm, Services, Tax, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: charitable donations, CPA Dallas, qualified charitable donations, tax deductible donations, tax deductions, tax return preparation, The Burns Firm|

Are you charitably minded and have a significant amount of money in an IRA? If you’re age 70½ or older, and don’t need the money from required minimum distributions, you [...]

Keep Your Fleet Safe

November 18th, 2019|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Tax, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: business fleet of vehicles, Dallas CPA, keep your company issued vehicles in shape, The Burns Firm|

Whether your company has one vehicle or dozens on the road, smart management can save you money. Familiarity with tax laws, simple maintenance steps and high-tech solutions can reduce the [...]

Reap Tax Rewards from Year-End Harvesting

November 15th, 2019|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Services, Tax, Tax Credits, Tax Deductions, Tax Planning|Tags: Capital gains benefits, Dallas CPA, tax, tax credits, tax deductions, tax preparation, tax returns, tax rewards, The Burns Firm, year-end planning|

The stock market has experienced plenty of ups and downs this year. So, some investors are poised to take big gains for 2019, while others are currently showing losses and many [...]

Understanding and Controlling the Unemployment Tax Costs of Your Business

November 14th, 2019|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning|Tags: Dallas CPA, tax, Tax planning, tax preparation, The Burns Firm, understand your business unemployment tax costs, unemployment tax costs|

As an employer, you must pay federal unemployment (FUTA) tax on amounts up to $7,000 paid to each employee as wages during the calendar year. The rate of tax imposed [...]

Year-End Strategies to Reduce AGI

November 12th, 2019|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Services, Tax, Tax Credits, Tax Deductions, Tax Planning|Tags: AGI, CPA, Dallas CPA, reduce AGI, reducing AGI, Tax planning, tax savings, The Burns Firm|

Reducing your current-year adjusted gross income (AGI) is usually a tax-smart idea. Here are ten ways to reduce your AGI (and modified AGI) over the short and long run. Closeup [...]

Avoid Mistakes When Selling Your Business

November 7th, 2019|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Sell Business, Selling a Business, Services, Tax|Tags: CPA, Dallas CPA, selling my business, Selling your business, tax consequences when selling a business, tax planning for my business, taxes and business, The Burns Firm|

Tax-Favored Employee Fringe Benefits: What’s the Right Mix for Your Business?

November 5th, 2019|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Return|Tags: business deductions, business write-offs, Dallas CPA, employee fringe benefits, tax, Tax planning, tax preparation, The Burns Firm|

Job applicants look at more than just wages when evaluating potential employers. They consider the whole compensation package, including fringe benefits and perks. These add-ons enable employers to cast a [...]

Changing Jobs? What Will Become of Your 401(K)

October 31st, 2019|Categories: Accounting, Burns Firm, Business, Services, Tax, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: 401K, changing jobs and your 401k, CPA, Dallas CPA, tax, Tax planning|

Most private sector employers, for better or worse, put you in the driver's seat when it comes to saving for retirement. If you're a genuinely savvy and diligent investor, you might [...]

Combinations for Growth: Mergers & Acquisitions

October 29th, 2019|Categories: Accounting, Burns Firm, Business, Buying a Business, Merger & Acquisition, Sell Business, Selling a Business, Services, Tax, Tax Cuts, Tax Deductions, Tax Planning, Tax Return|Tags: business growth through acquisition and merger, business valuation, CPA, Dallas CPA, due diligence, M&A, mergers & acquisitions, tax, Tax planning, The Burns Firm CPA's, The Burns Firm M&A Advisors|

If your company has decided the best way to grow is to expand your ownership boundaries, you are probably considering either a merger or an acquisition. Both are convenient, quick [...]

Bonus Depreciation for Your Business: Review Your Options

October 24th, 2019|Categories: Accounting, Burns Firm, Business, Tax, Tax Credits, Tax Cuts, Tax Deductions, TCJA|Tags: bonus depreciation elections, bonus depreciation for QIP, CPA Dallas, qualified improvement property, tax, TCJA, The Burns Firm, tx preparation|

First-year bonus depreciation has been around for a while now. However, the Tax Cuts and Jobs Act (TCJA) set forth more generous, but temporary, rules for 2018 through 2026. Recent [...]

Denis Burns on The Jeff Crilley Show

October 24th, 2019|Categories: Accounting, Burns Firm, Business, Buying a Business, C Corporation, Merger & Acquisition, Partnership, S Corporation, Sell Business, Selling a Business, Services, Tax|Tags: CPA Dallas, Denis Burns, merger & acquisition, Sell a business, Selling your business, The Burns Firm, The Burns Firm M&A Advisors|

https://www.facebook.com/TheJeffCrilleyShow/videos/3175821272459595/?t=22

Take Advantage of the Gift Tax Exclusion Rules

October 22nd, 2019|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Deductions, Tax Planning|Tags: CPA Dallas, gift giving tax rules, gift tax guideline, gifts by married taxpayers, tax, The Burns Firm, unified credit for taxable gifts|

As we head toward the gift-giving season, you may be considering giving gifts of cash or securities to your loved ones. Taxpayers can transfer substantial amounts free of gift taxes [...]

Small Business Owner Tax Planning Tips

October 16th, 2019|Categories: Accounting, Burns Firm, Business, Tax Planning|Tags: business tax planning, business taxes, CPA, Dallas CPA, small business tax planning, tax planning for 2020, tax returns, taxes, The Burns Firm|

It's hard to believe 2019 is almost over! It's been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they've [...]