Business Expense Deductions – The Burns Firm – Advisors of Complex Financial Matters

From Flights to Meals: A Guide to Business Travel Tax Deductions

November 20th, 2024|Categories: Accountant, accountant near me, Bookkeeping for Business, Burns Firm, Business Deductions, Business Expense Deductions, Business Travel Deductions, Business Write-offs, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, Expenses, Record Keeping for Business, Recordkeeping for Travel Expense, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm, Travel Expense, Travel Write-offs for Business|Tags: Business Expense for Travel, Business Travel, CPA, CPA Dallas, cpa near me, deductions, Deductions for Business Travel, Record-Keeping for Business Travel, tax, tax advisor, Texas CPA, The Burns Firm|

As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel expenses are tax deductible can significantly affect [...]

Business Website Expenses: How They’re Handled for Tax Purposes

August 29th, 2024|Categories: Accountant, Burns Firm, Business, Business Deductions, Business Expense Deductions, Business Write-offs, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Expenses, Sec. 179, Small Business, Tax, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm|Tags: business expenses, CPA Dallas, cpa near me, Dallas CPA, expenses, Sec. 179 deductions, tax, tax advisor, Texas CPA, The Burns Firm, Website Expenses|

Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted. But there are established rules that generally apply [...]

Updated Guidance on Business Vehicle Depreciation

May 9th, 2024|Categories: Accountant, Bonus Depreciation, Burns Firm, Business, Business Expense Deductions, Business Vehicle, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Sec. 179, Services, Tax, Tax Advisor, Tax Basis, Tax Depreciation, The Burns Firm|Tags: business vehicle depreciation, Business Vehicle Expenses, cpa near me, Dallas CPA, Depreciation on Business Vehicle, sec 179, Sec. 179 Deduction vs. Bonus Depreciation, tax, tax advisor, Texas CPA, The Burns Firm|

The rules for deducting depreciation expenses on vehicles used for business purposes have been liberalized under current tax law, but they remain complicated. In addition, annual inflation adjustments make allowable depreciation [...]

Tax Breaks for Employer-Paid Education Expenses

February 27th, 2024|Categories: accountant near me, Burns Firm, Business, Business Deductions, Business Expense Deductions, Business Write-offs, CPA, CPA Dallas, CPA near me, Dallas CPA, Deductions, Education, Education Assistance Plan, Education Expenses, Employee Benefits, Employer-Paid Education Expenses, Sec. 127 Plan, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, The Burns Firm|Tags: CPA Dallas, cpa near me, Dallas CPA, Educational Assistance Plans, Employer Deductions, Employer-Paid Education Expenses, Reimbursement for Job-Related Qualified Education Expenses, Sec. 127, tax, tax advisor, Tax Break for Employer-Paid Education Expenses, The Burns Firm|

Is your business struggling with a shortage of skilled workers in today's tight labor market? One possible option is to invest in education programs to upskill your current employees. This [...]

Taking your spouse on a business trip? Can you write off the costs?

February 22nd, 2024|Categories: Accountant, Accounting, Burns Firm, Business Deductions, Business Expense Deductions, Business Write-offs, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tx accountant, Expenses, Services, Tax, tax accountant near me, Tax Advisor, Tax Deductions, The Burns Firm, Travel Expense, Travel Write-offs for Business|Tags: Business Travel, Business Travel with Spouse, Business Travel Write-off Guidelines, business write-offs, tax advisor, The Burns Firm, Travel Expense Write-offs, Write-off Business Travel, write-offs|

A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit $928.4 billion by 2030, according to a report [...]

Dos and Don’ts for Business Expense Deductions

February 6th, 2024|Categories: Accountant, Accounting, Burns Firm, Business, Business Automobile, Business Deductions, Business Expense Deductions, Business Vehicle, Business Write-offs, Client Gifts, CPA, CPA Dallas, CPA near me, CPADallas, Dallas CPA, Dallas tx accountant, Deductions, Entertainment Deductions, Expenses, Meals & Entertainment Deductions, Services, Tax, tax accountant, Tax Advisor, Tax Deductions, The Burns Firm|Tags: are client gifts deductible, business deductions, Business Expense Deductions, business expenses, Client Gifts, cpa near me, Dallas CPA, deductions, Meal and Entertainment Deductions, tax, tax deductions, The Burns Firm, Vehicle Expense Deduction, What Can I Deduct for Business Expenses|

As tax season heats up, companies of all kinds and sizes will be on the hunt for ways to reduce their tax bills. One of the most common ways is [...]