Virtual Currency – The Burns Firm – Advisors of Complex Financial Matters

Federal Tax News for Individuals

January 10th, 2023|Categories: 401K, Charitable Donations, CPA near me, Dallas CPA, Tax, Tax Advisor, Tax Planning, Tax Return, The Burns Firm, Virtual Currency|Tags: cpa near me, federal tax news, Federal Tax Updates, tax, The Burns Firm|

Crypto Investors: Loss Deductions, Regulation and Oversight There have been three recent developments in the cryptocurrency arena: Loss tax deductions for FTX investors. Investors with inaccessible assets tied up [...]

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 [...]

How Virtual Currency Transactions Affect Your Tax Situation

May 6th, 2021|Categories: Accounting, CPA Dallas, Dallas CPA, IRS, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, The Burns Firm, Virtual Currency|Tags: Callas CPA, CPA Dallas, do i ned to report bitcoin transactions, do i need to report bitcoin on my tax return, how do i keep track of virtual currency transactions for my taxes, how do I report cyrptocurrency, how do i report virtual currency, is virtual currency considered property, is virtual currency income, tax preparer near me, tax return preparation near me, The Burns Firm|

The IRS wants to know about any virtual currency transactions. However, many taxpayers are surprised to learn that Bitcoin and other forms of virtual currency are considered "property" for tax purposes, [...]