Charitable Contributions – The Burns Firm – Advisors of Complex Financial Matters

To Itemize or Not to Itemize?

December 12th, 2024|Categories: Accountant, accountant near me, Burns Firm, Charitable Contributions, Charitable Donations, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, Dependents, Medical Deductions, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Return, Tax Return Filing, Tax Return Preparer, Tax Rules, tax write-offs, Texas CPA, The Burns Firm|Tags: CPA, cpa near me, Dallas CPA, itemized deductions, Itemizing for 2024, Personal Tax and Itemizing, Should I Itemize My Deductions, tax, tax advisor, tax deductions, Texas CPA, The Burns Firm, What Can I Use for Itemized Deductions|

With the tax year winding down, it's time to evaluate your personal tax situation. Will you claim the standard deduction or itemize deductions on your 2024 tax return? The [...]

Bunching Charitable Donations to Maximize Your Tax Benefits

December 10th, 2024|Categories: Accountant, Accounting, Burns Firm, Charitable Contributions, Charitable Donations, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm|Tags: Bunching Charitable Contributions, charitable contributions, cpa near me, DAF, Dallas CPA, Deductible Charitable Contributions, Deductible Contributions, Donor Advised Fund, Qualified Charitable Contributions, tax, tax accountant, tax advisor, Texas CPA, The Burns Firm|

The Tax Cuts and Jobs Act (TCJA) virtually doubled the standard deduction through 2025. So fewer taxpayers are itemizing deductions these days. Instead, more people are claiming the standard deduction. [...]

Senior Tax-Saving Alert: Make Charitable Donations From Your IRA

December 3rd, 2024|Categories: Burns Firm, Charitable Contributions, Charitable Donations, CPA, CPA Dallas, CPA near me, Dallas CPA, Donations, IRA, Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0), Tax, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm|Tags: Charitable donation, charitable donation from IRA, Charitable Donations via IRA, CPA Dallas, cpa near me, CPA TExas, IRA, tax advisor, tax savings, The Burns Firm|

If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you gain tax advantages. QCD [...]