Burns Firm

Now that the April 18 income tax filing deadline has passed, it may be tempting to set aside any thought of taxes until year end is approaching. But don’t succumb. [...]

Information from irs.gov The IRS offers many payment options — if you owe federal tax. Never send cash. You can pay online, send a check via USPS, pay by phone or [...]

If you do not file your tax return by the deadline and you fail to pay on time, you will usually owe interest and penalties on the tax you pay [...]

The short answer is: none. You need to hold on to all of your 2015 tax records for now. But this is a great time to take a look at [...]

Information form irs.gov If you don’t have taxes withheld or you don’t have enough tax withheld, you may need to make estimated tax payments ( If you are self-employed you [...]

Yes, the federal income tax filing deadline is slightly later than usual this year — April 18 — but it’s now nearly upon us. So, if you haven’t filed your return [...]

Information from irs.gov There are specific tax rules that may apply to some children who receive investment income. The rules may affect the amount of tax and how to report the [...]

Starting a new business is an exciting time. But before you even open the doors, you generally have to spend a lot of money. You may have to train workers [...]

The IRS offers the following facts when it comet to deducting charitable donations. If you gave money or goods to a charity in 2015, you may be able to claim [...]

Information provided by irs.gov When you sell a capital asset, the sale normally results in a capital gain or loss. A capital asset includes most property you own for personal [...]

If you suffer damage to your home or personal property, you may be able to deduct these “casualty” losses on your federal income tax return. A casualty is a sudden, [...]

If your 2015 tax liability is higher than you’d hoped and you’re ready to transfer some assets to your loved ones, now may be the time to get started. Giving [...]

If you lost your job, you may qualify for unemployment benefits. These benefits may be taxable. Facts about unemployment compensation: Unemployment is taxable and you need to include all unemployment [...]

 Information from irs.gov You may have the need to take money early from your IRA or retirement plan. This can trigger an additional tax on top of the income tax you may [...]