Expenses – Page 2 – The Burns Firm – Advisors of Complex Financial Matters

Three Tax Breaks for Small Businesses

August 16th, 2022|Categories: Accountant, accountant near me, Accounting, Business, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Expenses, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, tax season tips, Tax Withholding, tax write-offs, The Burns Firm, Year-End Tax Planning|Tags: CPA Dallas, cpa near me, Dallas CPA, Dallas CPA near me, QBI deduction, small business, small business tax breaks, tax breaks, tax breaks for my small business, tax breaks for small business 2022, tax preparer near me, The Burns Firm, what is a QBI deduction|

Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. QBI deduction For [...]

Interested in an EV? How to Qualify for a Powerful Tax Credit

August 2nd, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business Vehicle, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Electric Vehicle, EV, Expenses, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Cuts, Tax Deductions, The Burns Firm|Tags: CPA Dallas, cpa near me, Dallas CPA, Dallas CPA near me, electric vehicles, EVs, should I buy a EV, should I invest in an EV, tax, tax credit for electric car, tax credit for electric vehicle, tax credit for EV, tax credits, The Burns Firm|

Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However, while they’re still a small percentage of the cars [...]

Tax Season Filing Tips

May 24th, 2022|Categories: Accountant, Accounting, are social security benefits taxable, Burns Firm, Business, Corporation, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Delinquent Tax, Estimated Tax, Estimated Tax Payments, Exemptions, Expenses, Gift Tax, household employees and tax, Inheritance, Partnership, S Corporation, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, tax scams to be aware of, tax write-offs, The Burns Firm|

Did you know that tax return errors can delay refunds and increase audit risk? Before your tax return preparation appointment, make sure you've gathered all 2021 tax documents received, such [...]

Beware: Remote Work May Complicate Your Income Taxes

March 24th, 2022|Categories: Accountant, Accounting, CPA, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Employee Retention Tax Credit, Expenses, Services, Small Business, Tax, Tax Credits, Tax Deductions, Tax Preparation, Tax Return, The Burns Firm|Tags: convenience tax rule, CPA, CPA Dallas, CPA TExas, North Texas accountant, North Texas CPA, remote work may complicate your income tax return, rules for working from home, rules related to the taxation of remote workers, tax and remote workers, tax preparation in Dallas, tax preparer in DFW, tax preparer near me, tax rules relating to remote workers, The Burns Firm|

Remote work has become more common in recent years, and the COVID-19 pandemic has resulted in employers realizing that many jobs can be done from home. Some remote workers even work [...]

Smooth Sailing: Tips to Speed Processing and Avoid Hassles This Tax Season

February 22nd, 2022|Categories: Accounting, Burns Firm, Child Tax Credit, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Delinquent Tax, Dependent Care credits, Donations, Estimated Tax, Estimated Tax Payments, Expenses, Gift Tax, Healthcare & Retirement, Lifetime Learning Credit, Nanny Tax, Retirement, Scholarships, Services, Social Security, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, tax write-offs, Taxpayer Certainty and Disaster Tax Relief Act (TCDTRA), TCJA, The Burns Firm|Tags: 1099, 2021 tax year tips, CPA Dallas, Dallas CPA, form 1040 tax preparer, North Texas accountant, North Texas accounting firm, North Texas CPA, North Texas CPA firm, tax preparer near me, tax return preparation, tax tips, tax tips to avoid hassles this tax season, Texas CPA, The Burns Firm, W2|

The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid [...]

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 [...]

11 Sources of Tax-Free Income

February 10th, 2022|Categories: Accounting, Burns Firm, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Delinquent Tax, Exemptions, Expenses, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: are EIPs tax-free, CPA Dallas, Dallas CPA, gifts and interitances tax, life are insurance proceeds tax-free, qualified section 529 withdrawals, tax, tax-free home sales gains, tax-free income, The Burns Firm, what income items are tax-free|

There are still ways to earn income that is free from federal income tax. With the various tax changes that have taken effect in recent years, tax-free income opportunities are perhaps [...]

There’s a Deduction For Student Loan Interest … But Do You Qualify For It?

February 1st, 2022|Categories: Accounting, Burns Firm, CPA Dallas, Dallas CPA, Dallas tax return preparer, Expenses, Services, Tax, Tax Credits, Tax Deductions, The Burns Firm|Tags: accountant in north dallas, accountant in North Texas, CPA Dallas, Dallas accountant, Dallas CPA, student loan interest. can i deduct student loan interest on my tax return, tax, tax credits, tax deductions, tax preparer near me|

If you’re paying back college loans for yourself or your children, you may wonder if you can deduct the interest you pay on the loans. The answer is yes, subject [...]

Teachers Can Deduct Out-of-Pocket Classroom Expenses Including COVID-19 Protective Items

February 1st, 2022|Categories: Burns Firm, Covid-19, COVID-Related Tax Relief Act (COVIDTRA), CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Expenses, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, Tax Withholding, tax write-offs, The Burns Firm|Tags: accountant in Dallas, are books tax deductible for teachers and students, are Covid-19 expenses deductible for teachers, are teacher expenses deductible, Covid-19 expenses, CPA Dallas, Dallas CPA, tax, teacher deductions, teacher expenses, The Burns Firm, what expenses are qualified as deductible for teachers|

Info courtesy of IRS.gov Teachers Can Deduct Out-of-Pocket Classroom Expenses Including COVID-19 Protective Items Fall is here and another school year is in full swing. Many teachers are already [...]

Get ready for taxes: Here’s what’s new and what to consider when filing in 2022

January 25th, 2022|Categories: Accounting, Burns Firm, CARES Act, Child Tax Credit, Covid-19, COVID-Related Tax Relief Act (COVIDTRA), CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Donations, Estimated Tax, Estimated Tax Payments, Expenses, Gift Tax, IRS, Nanny Tax, Retirement, Services, Small Business, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, Tax Withholding, tax write-offs, Taxpayer Certainty and Disaster Tax Relief Act (TCDTRA), The Burns Firm, Withholding|Tags: 2022 tax, 2022 tax guidelines, 2022 taxes, accountant near me, cpa near me, IRS, North Texas accountant, tax accountant near me, tax filing, tax preparation, tax preparer near me|

Information from IRS.gov The IRS encourages taxpayers to get informed about topics related to filing their federal tax returns in 2022. These topics include special steps related to charitable contributions, [...]

Providing A Company Car? Here’s How Taxes Are Handled

January 20th, 2022|Categories: Accounting, Burns Firm, Business, C Corporation, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Expenses, Partnership, S Corporation, Services, Small Business, Tax, Tax Credits, Tax Deductions, Tax Preparation, Tax Return, The Burns Firm|Tags: CPA Dallas, Dallas CPA, expenses relating to company car, fringe benefit, how are taxes handled for a company car, how do I expense items relating to my company car, is a fringe benefit considered income, tax, tax deduction, tax expenses, tax on company car, The Burns Firm|

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This perk results in tax deductions for the employer as well as [...]

Help Safeguard Your Personal Information By Filing Your 2021 Tax Return Early

January 18th, 2022|Categories: Accounting, Alternative Minimum Tax, American Opportunity Tax Credit, Burns Firm, Charitable Donations, Child Tax Credit, COVID-Related Tax Relief Act (COVIDTRA), CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Dependent Care credits, Donations, Employee Retention Tax Credit, Exemptions, Expenses, Gift Tax, Hobby, how do I know if my parent qualifies as my dependent, how do I report bitcoin transactions, how do i report virtual currency transactions, if I support my parents financially can I claim them on tax return, IRS, Medicare Premiums, Nanny Tax, Retirement, Scholarships, Services, Social Security, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Return, Tax Withholding, tax write-offs, Taxpayer Certainty and Disaster Tax Relief Act (TCDTRA), TCJA, The Burns Firm, Virtual Currency, Withholding|Tags: Allison Shike, CPA Dallas, Dallas CPA, Denis Burns, file 2021 tax return early, tax credits, tax deductions, tax preparation near me, tax preparer near me, tax preparer North Dallas, tax preparer North Texas, tax withholding, Texas CPA, The Burns Firm, when can I file my 2021 tax return|

The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being accepted.) Even if you typically don’t file until [...]

The Tax Score of Winning

November 2nd, 2021|Categories: Accounting, Burns Firm, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Expenses, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: are bingo winnings taxable, are lottery winnings taxable, CPA Dallas, Dallas CPA, do i pay tax on my gambling earnings, if I win the lottery will i pay taxes on the money, tax, The Burns Firm, what earnings are taxable, what tax is due for money won gambling|

Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. And there are still more traditional ways to gamble and play the [...]

What to Look for in Personal Finance Apps

October 26th, 2021|Categories: Burns Firm, CPA Dallas, Dallas CPA, Expenses, Tax|Tags: apps to manage personal finance, CPA Dallas, cpa near me, Dallas CPA, how do I manage my finances, personal finance, tax preparation near me, The Burn Firm|

Since Apple launched its iPhone App Store more than a dozen years ago, the mobile applications market has exploded. While many of these apps are games and social media programs, an [...]

5 Possible Tax Aspects of a Parent Moving Into a Nursing Home

September 2nd, 2021|Categories: Accounting, Burns Firm, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Expenses, Healthcare & Retirement, how do I know if my parent qualifies as my dependent, if I support my parents financially can I claim them on tax return, Medicare Premiums, Services, Tax, Tax Credits, Tax Deductions, Tax Return, The Burns Firm|Tags: are medical expenses deducted, are nursing home expenses deductible, CPA Dallas, Dallas CPA, deductions on tax return, elderly and expenses, long-term medical care expenses, medical expense deductions, tax preparer near me, The Burns Firm, what expenses are deductible on my tax return|

If you have a parent entering a nursing home, you may not be thinking about taxes. But there are a number of possible tax implications. Here are five. 1. Long-term [...]