Denis Burns – The Burns Firm – Advisors of Complex Financial Matters

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 [...]

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 [...]

Beware of Piercing the Corporate Veil – An Avoidable Nightmare for Shareholders

July 6th, 2021|Categories: Accounting, Burns Firm, CPA Dallas, Dallas CPA, Law, Litigation, Litigation Services, Services|Tags: CPA Dallas, Denis Burns, expert testimony, expert witness, piercing the corporate veil, The Burns Firm, what does it take to pierce the corporate veil, what is piercing the corporate veil|

This limited article addresses “piercing the corporate veil,” which refers to the limited circumstances under which the liability shield of a registered legal entity (an LLC or corporation) may be [...]

5 Mid-Year Tax Planning Ideas for Small Business Owners

August 4th, 2020|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Tax, Tax Credits, Tax Cuts, Tax Planning|Tags: Allison Shike, business needs tax planning, business tax planning, CPA Dallas, Denis Burns, mid-yer tax planning, Tax planning, tax planning for business, The Burns Firm|

The second half of 2020 has begun. What steps can small business owners take today to lower taxes for the current tax year? Alternatively, would it make more sense to maximize taxable income [...]

Denis Burns on The Jeff Crilley Show

October 24th, 2019|Categories: Accounting, Burns Firm, Business, Buying a Business, C Corporation, Merger & Acquisition, Partnership, S Corporation, Sell Business, Selling a Business, Services, Tax|Tags: CPA Dallas, Denis Burns, merger & acquisition, Sell a business, Selling your business, The Burns Firm, The Burns Firm M&A Advisors|

https://www.facebook.com/TheJeffCrilleyShow/videos/3175821272459595/?t=22

Charitable IRA Rollovers May Be Especially Beneficial in 2018

October 16th, 2018|Categories: Accounting, Burns Firm, Services, Tax, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: charitable IRA rollover, CPA, Dallas CPA, Denis Burns, IRA contributions, tax, The Burns Firm|

If you’re age 70½ or older, you can make direct contributions — up to $100,000 annually — from your IRA to qualified charitable organizations without owing any income tax on [...]

Watch Out for Unfavorable ‘Related Party’ Rules

August 9th, 2018|Categories: Accounting, Burns Firm, Business, Tax, Tax Deductions, Tax Planning, TCJA|Tags: 'related party' rules, business, business assets, C corp, Denis Burns, owner interest, Sell a business, Selling, The Burns Firm|

Beware of the tricky "related party" tax rules if you are considering buying or selling business assets or an ownership interest (corporate stock or a partnership or LLC interest).The Internal [...]

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: 2018 tax planning, Accounting, business, C corp, Denis Burns, expense, IRS, Planning, Retirement, tax, Tax planning, tax return, TCJA, The Burns Firm|

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 [...]

Stakeholders and Your Business

May 3rd, 2018|Categories: Accounting, Burns Firm, C Corporation, Partnership, S Corporation, Services, Tax|Tags: Accounting, business, Denis Burns, Stakeholders, stakeholdersandyourbusiness, The Burns Firm|

Long ago business owners believed that as long as they served their customers effectively and made sure that their stock maintained or increased its value, all was taken care of. [...]

Individual Tax Calendar: Important Deadlines for the Remainder of 2018

April 17th, 2018|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: 2017 filing deadline, 2018 filing deadline, Accounting, Denis Burns, dependents, exemptions, Home office, IRS, Marital status, Planning, tax, tax credits, tax filing deadline, tax preparation, tax return, tax return filing|

While April 15 (April 17 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that you also need [...]

Haven’t Filed Your 2017 Income Tax Return Yet? Beware of These Pitfalls

April 12th, 2018|Categories: Accounting, Burns Firm, Tax, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: Accounting, deadline, Denis Burns, exemptions, IRS, Non-filing of tax return, Penalties and interest, tax, tax preparation, tax return, The Burns Firm|

The federal income tax filing deadline is slightly later than usual this year — April 17 — but it’s now nearly upon us. So, if you haven’t filed your individual [...]

There’s Still Time to Make a 2017 IRA contributions

April 3rd, 2018|Categories: Accounting, Burns Firm, Tax, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: Accounting, Contribution, deadline, Denis Burns, exemptions, IRA, IRA contribution, IRA contribution deadline, Planning, Retirement, Retirement Plan, tax, tax preparation, tax return, The Burns Firm|

Tax-advantaged retirement plans like IRAs allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. The deadline for 2017 contributions is April 17, 2018. Deductible [...]

Early Withdrawals from Retirement Plans

March 27th, 2018|Categories: Accounting, Burns Firm, Tax, Tax Planning, Tax Preparation, Tax Return|Tags: Accounting, Denis Burns, Early Withdrawal, IRA, Planning, Retirement, Retirement Plan, tax, tax return, The Burns Firm|

At some point, there may be a need to take out money early from a Individual Retirement Account or retirement plan. Doing so, however, can trigger an additional tax on [...]

Getting a Divorce? Divide Assets and Tax Bills

March 13th, 2018|Categories: Burns Firm, Exemptions, Law, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: Accounting, Assets, Denis Burns, divide assets, divorce, IRS, Marital status, Planning, tax preparation, tax return, The Burns Firm|

With a divorce, there are often major financial consequences and some important tax issues too. Here are the tax rules that generally apply when a couple's assets are split up in [...]

Families with College Students May Save Tax on Their 2017 Returns With One of These Breaks

February 22nd, 2018|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: Accounting, deductions, Denis Burns, dependents, exemptions, expense, IRS, tax, tax credits, tax preparation, tax return, The Burns Firm|

Whether you had a child in college (or graduate school) last year or were a student yourself, you may be eligible for some valuable tax breaks on your 2017 return. [...]