Services – Page 10 – The Burns Firm – Advisors of Complex Financial Matters

Computer software costs: How does your business deduct them?

December 6th, 2022|Categories: Accountant, Accounting, Burns Firm, Business, Business Write-offs, CPA, CPA Dallas, CPA near me, CPADallas, Dallas CPA, Deductions, Services, Small Business, Tax, Tax Advisor, Tax Deductions, tax write-offs, The Burns Firm|Tags: business deductions, CPA Dallas, Deduct business expense, Software deductible for a business, tax deductions, The Burns Firm|

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or [...]

Strategies for Investors to Cut Taxes as Year-End Approaches

November 29th, 2022|Categories: Accountant, Accounting, Burns Firm, CPA Dallas, Dallas CPA, Services, Tax, Tax Advisor, Tax Planning, The Burns Firm, Year-End Tax Planning|Tags: cut taxes, how investors can cut taxes, tax, Tax planning, The Burns Firm, year end tax planning|

The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some moves to make the best tax use [...]

Plan Now to Reduce AMT Exposure

November 17th, 2022|Categories: Accountant, accountant near me, Accounting, Alternative Minimum Tax, AMT, Burns Firm, CPA, CPA Dallas, CPA near me, CPA75248, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Cuts, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, TCJA, The Burns Firm|Tags: AMT exposure, CPA 75248, CPA Dallas, cpa near me, Dallas CPA, how do I reduce my AMT exposure, individual alternative minimum tax still in place, tax accountant near me, tax advisor near me, TCJA, The Burns Firm, what are risks of AMT|

First the bad news: Despite passage of the Tax Cuts and Jobs Act (TCJA), the individual alternative minimum tax (AMT) is still in place. But there's some good news: The [...]

You May Be Liable For “Nanny Tax” For All Types of Domestic Workers

November 15th, 2022|Categories: Accountant, Burns Firm, CPA Dallas, CPA near me, Dallas CPA, Nanny Tax, Services, Tax, Tax Advisor, The Burns Firm|Tags: CPA Dallas, do I, Do I need to pay nanny tax for my gardner, do I need to pay nanny tax for my housekeeper, do I need to pay nanny tax for my Nanny, nanny tax, tax, The Burn Firm|

You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or other household employee [...]

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 [...]

Tax and Other Financial Consequences of Tax-Free Bonds

November 3rd, 2022|Categories: CPA, CPA Dallas, Dallas CPA, Services, Tax, Tax Advisor, Tax Planning, The Burns Firm|Tags: Bonds, cpa near me, tax, tax advisor near me, tax consequences of tax-free bonds, tax-free bonds, The Burns Firm|

If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the investment generally provides tax-free interest on the federal (and [...]

How Tax Reform Affects Divorce Settlements for Small Business Owners

October 20th, 2022|Categories: Accountant, accountant near me, Accounting, CPA, CPA Dallas, CPA in NOrth Texsa, CPA near 75248, CPA near 75252, CPA near me, CPA neasr 75248, CPADallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Self-employed, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, The Burns Firm|Tags: business tax issues, child-related tax issues and divorce, CPA Dallas, CPA neaer 75248, cpa near me, Dallas CPA, how tax reform affects divorce settlements, investments and real estate when you get a divorce, North Dallas CPA, North Texas CPA, small business and tax consequences if divorced, small business owners and how divorce affects them, tax, tax accountant near me, tax adviser, tax advisor, tax and divorce, tax and divorce settlements, tax reform, tax treatment of alimony, The Burns Firm|

How does the Tax Cuts and Jobs Act (TCJA) affect divorce settlements? Changes in the new law may require divorcing individuals — especially those who own businesses and other investments [...]

Seller-paid points: Can homeowners deduct them?

October 18th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA in NOrth Texsa, CPA near 75248, CPA near 75252, CPA neasr 75248, CPA75248, CPADallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, The Burns Firm|Tags: basics of points, can homeowner deduct seller-paid point, CPA Dallas, Dallas CPA, North Dallas CPA, North Texas CPA, paid points when purchasing a home, seller-paid point on home, taqx accountant near 75248, tax accountant near me, The Burns Firm, who pays the points when purchasing|

In its latest report, the National Association of Realtors (NAR) announced that July 2022 existing home sales were down but prices were up nationwide, compared with last year. “The [...]

Social Security Recipients Will Receive a Large Increase in 2023

October 13th, 2022|Categories: Accountant, Accounting, are social security benefits taxable, CPA Dallas, Services, Social Security, Tax, Tax Advisor, The Burns Firm|Tags: social security, tax, tax advisor, The Burns Firm|

Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 70 million Americans will increase 8.7% in 2023, the federal government just announced. On average, the Social Security Administration [...]

Communication Is Critical During Mergers and Acquisitions

October 13th, 2022|Categories: Accounting, Burns Firm, Business, Buying a Business, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Growing A Business, Merger & Acquisition, Sell Business, Selling a Business, Services, Small Business, Tax, Tax Credits|Tags: Allison Shike, communication key in a M&A dea, CPA Dallas, Dallas CPA, Denis Burns, due diligence, how do I buy a business, M&A, M&A firm near me, merger and aquisitions, mergers & acquisitions, The Burns Firm, The Burns Firm M&A Advisors, what do I share with employees if I am selling my business|

Want to enter a market quickly, expand market share, or acquire an established brand? The first phrase that comes to mind is mergers & acquisitions. That can be a quick [...]

How Will Inflation Affect Your 2023 Tax Bill

October 11th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, CPA neasr 75248, CPA75248, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, The Burns Firm|Tags: CPA 75248, CPA Dallas, CPA neaer me, Dallas CPA, how will inflation affect me, how will inflation affect your tax bill, inflation, inflation and tax, The Burns Firm|

Inflation has been surging this year. The July 2022 consumer price index (CPI) was up 8.5% year over year, according to the latest data from the U.S. Bureau of Labor [...]

Be a Hands-On Owner to Maximize Profits

October 6th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, Business Write-offs, Buying a Business, CPA, CPA Dallas, CPA near me, CPA neasr 75248, CPA75248, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Growing A Business, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Preparation, tax preparer near me, Tax Return, The Burns Firm|Tags: be a hands-on owner, CPA 75248, CPA Dallas, cpa near me, Dallas CPA, guidelines for owning a business, how can a business owner maximize profit, owning a business, tax preparation, tax preparer near me, tips for owning a business, what do I need to know about owning a business|

Over the years, McDonald's has been able to sell hundreds of billions of hamburgers. The business started with a single drive-in burger stand started by two brothers in Southern California. [...]

Year-end Tax Planning Ideas for Individuals

October 4th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA in NOrth Texsa, CPA near 75248, CPA near 75252, CPA near me, CPA neasr 75248, CPA75248, CPADallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Estimated Tax, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, tax season tips, Tax Withholding, The Burns Firm, Year-End Tax Planning|Tags: CPA Dallas, cpa near me, Dallas CPA, how to prepare tax projections, North Dallas CPA, North Texas CPA, tax, tax accountant, tax accountant near me, Tax planning, tax preparer near me, tax projections 2022, tax projections for 2022, tax return preparation, The Burns Firm, year end tax planning|

Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next. One of the first [...]

Due Diligence Checklist for Sellers

September 29th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, Business, Buying a Business, C Corporation, Corporation, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Due Diligence, LLC, M&A, Merger & Acquisition, Partnership, Sell Business, Selling a Business, Services, Small Business, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Deductions, The Burns Firm|

When it comes to due diligence procedures, much attention is focused on those who want to buy a business. But sellers must also conduct due diligence investigations and it's important [...]

Is Your Income High Enough To Owe Two Extra Taxes?

September 27th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA in NOrth Texsa, CPA near 75248, CPA near 75252, CPA near me, CPA neasr 75248, CPA75248, CPADallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Medicare Tax, Net Investment Income Tax, NIIT, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, The Burns Firm|Tags: 3.8 percent net investment income tax, 3.8% NIIT, accountant near me, additonal 0.9% medicare tax, CPA Dallas, cpa near me, Dallas CPA, do i need to pay more medicare tax, high-income tax payers, how much medicare tax do i owe, medicare tax, net investment income tax, North Texas CPA, tax, tax accountant near me, Texas CPA, The Burns Firm, will i be paying NIIT, will i pay more in medicare tax based on my income|

High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of [...]