Scholarships – The Burns Firm – Advisors of Complex Financial Matters

Get a Head Start on College Savings

February 28th, 2023|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Education, Scholarships, Services, Tax Advisor, Tax Planning, The Burns Firm|Tags: College Expense, College Savings, CPA Dallas, cpa near me, Education, Education Savings, higher education, save for college, tax, tax advisor, The Burns Firm|

The Brookings Institution estimates parents will spend about $310,605 to raise a child born in 2015 until the age of 17. This figure is adjusted for future projected inflation but [...]

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 [...]

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 [...]

Six Education Tax Breaks on the Books

October 14th, 2021|Categories: Accounting, American Opportunity Tax Credit, AOTC, Burns Firm, Dallas CPA, Dallas tax return preparer, Lifetime Learning Credit, LLC, Scholarships, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, The Burns Firm|Tags: american opportunity tax credit, AOTC, can i deduct books for school on my tax return, can i report expense for books on my tax return, can i report school expenses on tax return, CPA Dallas, cpa near me, Dallas CPA, Lifetime Learning credit, LLC, school expenses, tax breaks on books for school, tax preparer near me, The Burns Firm|

It costs a pretty penny to send a child to college or private school these days. But at least the federal tax code may provide some relief, within certain limits. Can [...]

Scholarships Are Usually Tax Free But May Result in Taxable Income

September 7th, 2021|Categories: Accounting, Burns Firm, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, IRS, Scholarships, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, The Burns Firm|Tags: CPA Dallas, Dallas CPA, do I pay tax on money received as a scholarship, do I report scholarship money on my tax return, how do I treat scholarship money as tax-free, is scholarship money tax free, scholarship money, tax, tax preparer near me|

If your child is fortunate enough to be awarded a scholarship, you may wonder about the tax implications. Fortunately, scholarships (and fellowships) are generally tax free for students at elementary, [...]