Burns Firm

Update: Home Mortgage Interest Deductions

September 29th, 2016|Categories: Burns Firm|

The federal income tax rules on qualified residence interest have been around for many years, but there's always a steady flow of disagreements between the IRS and taxpayers on these [...]

Are You Ready for the New Overtime Rules?

September 20th, 2016|Categories: Burns Firm|

The deadline for the Department of Labor's (DOL's) new final overtime rule is December 1, 2016. While CFOs at most large U.S. companies have been working overtime themselves to prepare [...]

Home Energy Tax Credits

September 13th, 2016|Categories: Burns Firm|

Information provided by IRS Certain energy-efficient home improvements can cut your energy bills and save you money at tax time. The IRS suggest you keep the following key facts about [...]

Tax Impact of Investor vs. Trader Status

September 8th, 2016|Categories: Burns Firm|

Business woman holding a digital tablet pc analyzing stock market graph. Selective focus. If you invest, whether you’re considered an investor or a trader can have a significant [...]

Gambling Income and Losses and Your Taxes

September 6th, 2016|Categories: Burns Firm|

Information from IRS You need to report any gambling winnings as income on your tax return. If you have gambling losses, you will need to itemize the losses up to [...]

Are frequent flyer miles ever taxable?

September 1st, 2016|Categories: Burns Firm|

If you recently redeemed frequent flyer miles to treat the family to a fun summer vacation or to take your spouse on a romantic getaway, you might assume that there [...]

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