Vacation Home – The Burns Firm – Advisors of Complex Financial Matters

Taxes When You Sell an Appreciated Vacation Home

May 14th, 2024|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Sale of Vacation Home, Selling A Home, Services, Tax, tax accountant, Tax Advisor, tax write-offs, The Burns Firm, Vacation Home|Tags: cpa near me, Dallas CPA, Sale of Vacation Home and Taxes, tax, tax advisor, Taxes on Sell of Appreciated Vacation Home, Texas CPA, The Burns Firm, vacation home|

Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about taxes? Here are three scenarios to illustrate the federal [...]

Tax Breaks for Vacation Home Rentals

February 13th, 2024|Categories: Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Tax, Tax Advisor, Tax Deductions, Tax Return, Tax Return Preparer, tax write-offs, The Burns Firm, Vacation Home|Tags: CPA Dallas, cpa near me, Dallas CPA, tax, tax accountant near me, tax advisor, Tax Breaks for Vacation Rentals, The Burns Firm, vacation home rental, Vacation Home Tax Breaks, Vacation Rentals|

Do you own a vacation home in the mountains or near the water where you can enjoy some much-needed rest and relaxation? If you rent it to tenants while you [...]

The Tax Implications of Renting Out a Vacation Home

October 12th, 2023|Categories: Accountant, accountant near me, Accounting, Business, CPA, CPA Dallas, CPA near me, Dallas CPA, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, tax write-offs, The Burns Firm, Vacation Home|Tags: can i rent out my vacation home, CPA Dallas, cpa near me, Is vacation home rental money considered income, Renting my vacation home, tax, tax advisor, The Burns Firm, Vacation Home as Short-Term Rental, Vacation Home Income, Vacation Home Rental and Tax Implication, Vacation Homes|

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains or in a resort area, [...]

Thinking About Converting Your Home Into a Rental Property?

May 5th, 2022|Categories: Accountant, Accounting, can I convert my home to a rental, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, passive activity rule, Rental Property, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Preparation, Tax Withholding, tax write-offs, The Burns Firm, Vacation Home|

In some cases, homeowners decide to move to new residences, but keep their present homes and rent them out. If you’re thinking of doing this, you’re probably aware of the [...]