Fringe Benefits – The Burns Firm – Advisors of Complex Financial Matters

Keep These DOs and DON’Ts In Mind When Deducting Business Meal and Vehicle Expenses

June 29th, 2023|Categories: Accountant, Accounting, Burns Firm, Business, Business Deductions, Business Vehicle, Business Write-offs, CPA, CPA Dallas, CPA near me, Dallas CPA, Deductions, Employee Benefits, Expenses, Fringe Benefits, Meals & Entertainment Deductions, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Planning, tax write-offs, The Burns Firm|Tags: business deductions, business expenses, Business Meal Deductions, Business miles, Business Vehicle Deductions, Can I deduct Business Meals, Can I Deduct the Expenses For My Business Vehicle, Can I write-Off Business Expenses, cpa near me, Dallas CPA, fringe benefits, tax advisor, Tax write-offs, The Burns Firm, What Business Expenses Are Decutible|

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records [...]

Education Benefits Help Attract, Retain and Motivate Your Employees

May 25th, 2023|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Employee Benefits, Fringe Benefits, Services, Tax, tax accountant, Tax Advisor, The Burns Firm|Tags: cpa near me, Dallas CPA, Education Fringe Benefit, Employee Assistance with Student Loans, employee benefits, employee fringe benefits, fringe benefits, tax advisor, The Burns Firm|

One popular fringe benefit is an education assistance program that allows employees to continue learning and perhaps earn a degree with financial assistance from their employers. One way to [...]

Protect the “Ordinary and Necessary” Advertising Expenses of Your Business

March 30th, 2023|Categories: Accountant, Accounting, Burns Firm, Business, Business Write-offs, C Corporation, CPA, CPA Dallas, CPA near me, Dallas CPA, Deductions, Expenses, Fringe Benefits, Partnership, S Corporation, Services, Small Business, Tax, Tax Advisor, Tax Credits, Tax Planning, Tax Preparation, Tax Return Filing, tax write-offs, TCJA, The Burns Firm|Tags: Advertising Expense, Business Advertising Expense, Business Expense, cpa near me, Ordinary and Necessary Advertising Expense, The Burns Firm|

Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help businesses cut [...]

Update on Deducting Business Meal and Entertainment Expenses

March 23rd, 2023|Categories: Accountant, Accounting, Business, Business Deductions, Business Write-offs, Corporation, CPA, CPA Dallas, CPA near me, Dallas CPA, Deductions, Expenses, Fringe Benefits, Meals & Entertainment Deductions, Partnership, S Corporation, Services, Small Business, Tax, tax accountant, Tax Advisor, Tax Return, tax season tips, TCJA, The Burns Firm|Tags: are business meals deductible, business deductions, Business Meals, CPA Dallas, cpa near me, Dallas CPA, Deductions for Business Meals and Entertainment, fringe benefits, Meals vs Entertainment, Meals While Traveling, tax, tax advisor, The Burns Firm|

The federal income tax treatment of business-related meal and entertainment expenses has been a moving target the last few years. If you're confused about what rules currently apply, you're not [...]

What’s Happened with My Tax-Free Transportation Fringe Benefits?

February 2nd, 2023|Categories: Accountant, Burns Firm, CPA Dallas, CPA near me, Dallas CPA, Fringe Benefits, Services, Tax, Tax Credits, Tax Planning, The Burns Firm|Tags: cpa near me, fringe benefits, job-related moving expenses, mass transit passes, parking allowance, tax, Tax and Fringe Benefits, tax-free fringe benefits, The Burns Firm|

Over the years, Congress has established some nice tax breaks for transportation-related employee fringe benefits to encourage taxpayers to be more ecology-minded when commuting to work. But, the Tax Cuts [...]

Providing Fringe Benefits to Employees With No Tax Strings Attached

November 10th, 2022|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, CPADallas, Dallas CPA, Employee Benefits, Fringe Benefits, Services, Tax, tax accountant, The Burns Firm|Tags: CPA Dallas, employee fringe benefits, fringe benefits, fringe benefits for employees with no tax strings attached, tax, The Burns Firm|

Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of [...]