filing status – The Burns Firm – Advisors of Complex Financial Matters

Can You Claim Your Parent as a Dependent?

February 1st, 2024|Categories: Accountant, Adult Dependent, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Deductions, Dependent Care credits, Dependents, Parent Dependent, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Filing Status, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, Tax Return Filing, Tax Return Preparer, tax write-offs, The Burns Firm|Tags: Can I Claim My Parent as a Dependent, Claiming Dependents on a Tax Return, CPA Dallas, cpa near me, Dependent Child Care, dependents, filing status, tax, tax advisor, tax deductions, The Burns Firm, Who is a Dependent?, who qualifies as a dependent|

If you pay over half the cost of supporting a parent, your parent is considered your dependent for federal income tax purposes. This treatment potentially entitles you to some significant tax [...]

10 Tax Elections to Save Money on Your 2019 Tax Return

February 6th, 2020|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Return|Tags: 2019 tax return filing, 2019 tax return preparation, CPA Dallas, filing status, tax, tax credits to consider, tax deductions, tax elections, tax elections that may save you money for 2019, tax filing, The Burns Firm|

Here are ten important tax choices that individuals and small business owners can make this tax season. Tax Filing Status Tax filing status has numerous ramifications, so it's important to [...]

Joint Returns: Spouses Are Guilty Until Proven Innocent

January 14th, 2020|Categories: Accounting, Burns Firm, Services, Tax, Tax Deductions, Tax Planning, Tax Preparation|Tags: CPA, Dallas CPA, divorce and filing status, filing status, joint tax returns, tax preparation, tax preparation for tax year 2019, The Burns Firm|

When you got married, you knew it was for "better or worse." But you might not know about laws that hold you responsible if your spouse cheats on a tax [...]

Summer Loving? Think About Taxes Before You Tie the Knot

August 15th, 2019|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: CPA, filing status, tax, tax credits for filing joint tax return, tax preparation, tax returns, taxes, taxes when you get married, The Burns Firm|

For many couples, summer is the quintessential time to tie the knot. The weather is warm, the flowers are blooming and nature offers plentiful backdrops for photos. But there's more than [...]

Financial Issues to Consider During and After a Divorce

April 4th, 2019|Categories: Accounting, Burns Firm, Services, Tax, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: Dallas CPA, dividing assets in a divorce, divorce and debt, divorce and financial issues, filing status, issues to keep in mind when divorcing, North Dallas CPA, tax, tax law, tax returns, tax rules and divorce, Texas CPA, The Burns Firm|

Divorce is one of the most traumatic events that can occur in a person's life. The emotional aspects of the break-up are difficult to handle, and the stress can be [...]

What Will Your Marginal Income Tax Rate Be?

January 24th, 2019|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Preparation, Tax Return, TCJA|Tags: CPA, filing status, marginal income tax rate, tax, tax preparation, tax rate, tax returns, TCJA, The Burns Firm|

While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations [...]