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Factor in State and Local Taxes When Deciding Where to Live in Retirement

June 21st, 2018|Categories: Accounting, Burns Firm, Services, Tax, Tax Planning|Tags: , , , , , , , , , , |

Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision. Income, property and sales tax [...]

2018 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers

June 19th, 2018|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Services, Tax, Tax Planning, Tax Preparation, TCJA|Tags: , , , , , , , , , , |

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be [...]

The TCJA Changes Some Rules for Deducting Pass-through Business Losses

June 5th, 2018|Categories: Accounting, Burns Firm, Business, Services, Tax, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, TCJA|Tags: , , , , , , , , , , , , |

It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs [...]

Be Aware of the Tax Consequences Before Selling Your Home

May 29th, 2018|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, TCJA|Tags: , , , , , , , , , , , , , , , , , , , |

In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things [...]

Do Employers Have to Compensate Hourly Technicians for Travel Time?

May 22nd, 2018|Categories: Accounting, Business, C Corporation, Law, Partnership, S Corporation, Services, Tax|Tags: , , , , , , , , , , |

The U.S. Department of Labor's (DOL) Wage and Hour Division (WHD) has issued a new Opinion Letter on whether employers must compensate employees for travel time. These letters are issued [...]

Capital Gains Rates Before and After the New Tax Law

May 15th, 2018|Categories: Accounting, Burns Firm, Business, Merger & Acquisition, Services, Tax, Tax Credits, Tax Cuts, Tax Planning, Tax Preparation, Tax Return, TCJA|Tags: , , , , , , , , , , , , , , , , |

Are you confused about the federal income tax rates on capital gains and dividends under the Tax Cuts and Jobs Act (TCJA)? If so, you're not alone. Here's what you [...]

Get started on 2018 tax planning now!

May 8th, 2018|Categories: Accounting, Burns Firm, Business, C Corporation, Merger & Acquisition, Partnership, Retirement Plan, S Corporation, Selling a Business, Services, Tax, Tax Planning, Tax Preparation, Tax Return, TCJA|Tags: , , , , , , , , , , , , , |

With the April 17 individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), you may be [...]

Tax Document Retention Guidelines for Small Businesses

May 1st, 2018|Categories: Accounting, Burns Firm, Business, C Corporation, Countdown to Transition, EBITDA, Merger & Acquisition, Partnership, S Corporation, Sell Business, Selling a Business, Services, Tax, Tax Planning, Tax Preparation, Tax Return, TCJA|Tags: , , , , , , , , , , , , , , , , |

You may have breathed a sigh of relief after filing your 2017 income tax return (or requesting an extension). But if your office is strewn with reams of paper consisting [...]

Follow Detailed Recordkeeping Rules for Vehicle Expense Deductions

April 19th, 2018|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Services, Tax, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: , , , , , , , , , , , , , , |

Many business owners fail to follow the strict tax rules for substantiating vehicle expenses. But if your business is audited, the IRS will most likely ask for mileage logs if [...]

No Single Factor Determines Contractor Status

April 5th, 2018|Categories: Accounting, Burns Firm, Business, C Corporation, Law, Partnership, S Corporation, Services, Tax, Tax Planning, Tax Preparation, Tax Return|Tags: , , , , , , , , , , |

Hiring someone as an independent contractor can have many advantages for employers. Among them are that independent contractors: Can be hired on a per-project basis and let go when the [...]

2018 Q2 Tax Calendar: Key Deadlines for Businesses and other Employers

March 29th, 2018|Categories: Accounting, Burns Firm, Business, C Corporation, Services, Tax, Tax Deductions, Tax Preparation, Tax Return|Tags: , , , , , , , , |

Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may [...]

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