Business Write-offs – Page 2 – The Burns Firm – Advisors of Complex Financial Matters

Good News: IRS Boosts Standard Mileage Rates for Second Half of 2022

July 22nd, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, Business Vehicle, Business Write-offs, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, IRS, Services, Small Business, Tax, tax write-offs, The Burns Firm|Tags: 2022 mileage rate, are my business miles driven deductibe, can i deduct business miles driven, CPA Dallas, Dallas CPA, deductible miles, do I qualify for standard mileage rate deduction, IRS boost mileage rate for remainder of 2022, irs increases standard mileage rate for qualified business drivers, mileage rate from IRS, tax, The Burns Firm|

The IRS recently announced it will be increasing the standard mileage rate for qualified business drivers for the second half of 2022. The adjustment reflects rising costs at the gas pumps [...]

Tax Issues When SELLING a Business With an Earnout

May 12th, 2022|Categories: Accountant, Accounting, Burns Firm, Business, Business Write-offs, CPA, CPA Dallas, Dallas CPA, Dallas tax return preparer, Due Diligence, M&A, Merger & Acquisition, Sell Business, Selling a Business, Services, Small Business, Tax Planning, tax write-offs, The Burns Firm|Tags: accountant near me, CPA Dallas, cpa near me, Dallas CPA, merger and acquisition, selling my business, tax issues when selling a business with an earnout, tax preparer near me, The Burns Firm, who can hel me sell my business|

When a business is sold or purchased, the transaction might involve an earnout provision. This is a contractual arrangement in which the seller receives additional payment in the future if certain [...]

Tips for Purchasing a New or Used Vehicle

February 18th, 2022|Categories: Accounting, Burns Firm, Business, Business Vehicle, Business Write-offs, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Expenses, LLC, Partnership, S Corporation, Services, Small Business, Tax, Tax Credits, Tax Cuts, Tax Return, tax write-offs, The Burns Firm|Tags: car purchase, CPA Dallas, Dallas CPA, is it better to buy used or new vehicle, new car vs used car, should I purchase a new car or look into used, The Burns Firm, vehicle purchase|

The limited supply of new and used vehicles, along with other economic factors, has driven up prices in the auto market. The average price of new cars increased by 13% for the year [...]

How Fast Can You Write Off a Business Vehicle?

November 9th, 2021|Categories: Accounting, Burns Firm, Business, Business Vehicle, Business Write-offs, C Corporation, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, S Corporation, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, tax write-offs, The Burns Firm|Tags: business write-offs, can I write off business vehicle miles, can I write off miles driven for business, CPA Dallas, cpa near me, Dallas CPA, tax accountant near me, The Burns Firm, write-offs|

The federal income tax rules for depreciating vehicles used for business are complicated. And different rules apply to different categories of vehicles. Special limitations apply to vehicles that are classified as [...]