tax return preparation – The Burns Firm – Advisors of Complex Financial Matters

Do You Qualify as Head of Household

March 7th, 2024|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Filing Status, Head of Household, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Filing Status, Tax Preparation, Tax Return, Tax Return Filing, Tax Return Preparer, The Burns Firm|Tags: cpa near me, Dallas CPA, head of household, HOH Filing Status, tax, tax advisor, tax filing, tax filing status, tax return preparation, The Burns Firm|

The head of household (HOH) federal tax filing status is often misunderstood by taxpayers who might qualify, including single, divorced or legally separated parents, and taxpayers who support adult family [...]

4 Ideas That May Help Reduce Your 2023 Tax Bill

December 7th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, CPADallas, Dallas CPA, Dallas tax return preparer, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Cuts, Tax Depreciation, Tax Filing Status, Tax Forms, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, Tax Return Filing, tax season tips, Tax Support Documents, Tax Withholding, The Burns Firm, Year-End Tax Planning|Tags: 2023 Tax Planning, CPA, cpa near me, how can I reduce my tax bill, Reduce 2023 Tax Bill, tax, tax accountant, tax advisor, tax return preparation, The Burns Firm|

If you’re concerned about your 2023 tax bill, there may still be time to reduce it. Here are four quick strategies that may help you trim your taxes before year [...]

Some Taxpayers Qualify for More Favorable “Head of Household” Tax Filing Status

April 18th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Head of Household, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Filing Status, Tax Planning, Tax Preparation, Tax Return, Tax Return Filing, The Burns Firm|Tags: cpa near me, Do I Qualify as Head of Household, Head of Household Filing Guidelines, tax, tax advisor, tax filing status, tax return preparation, The Burns Firm|

When preparing your tax return, we’ll check one of the following statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Filing a return as [...]

Can a Modest-Income Elderly Person Stop Filing Tax Returns?

March 2nd, 2023|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dependent Care credits, Elderly, Tax, tax accountant, Tax Advisor, Tax Return, Tax Return Filing, The Burns Firm|Tags: Can Elderly Stop Filing Tax Returns, CPA Dallas, cpa near me, Do The Elderly Need to File Tax Returns, Elderly Taxpayers, tax filing, tax return preparation, The Burns Firm|

As you know, we spend a lot of time in this e-newsletter talking about tax return filing responsibilities. But not everyone is required to file. If a person's income [...]

Year-end Tax Planning Ideas for Individuals

October 4th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA in NOrth Texsa, CPA near 75248, CPA near 75252, CPA near me, CPA neasr 75248, CPA75248, CPADallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Estimated Tax, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Tax Planning, Tax Preparation, tax preparer near me, Tax Return, tax season tips, Tax Withholding, The Burns Firm, Year-End Tax Planning|Tags: CPA Dallas, cpa near me, Dallas CPA, how to prepare tax projections, North Dallas CPA, North Texas CPA, tax, tax accountant, tax accountant near me, Tax planning, tax preparer near me, tax projections 2022, tax projections for 2022, tax return preparation, The Burns Firm, year end tax planning|

Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next. One of the first [...]

Smooth Sailing: Tips to Speed Processing and Avoid Hassles This Tax Season

February 22nd, 2022|Categories: Accounting, Burns Firm, Child Tax Credit, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Delinquent Tax, Dependent Care credits, Donations, Estimated Tax, Estimated Tax Payments, Expenses, Gift Tax, Healthcare & Retirement, Lifetime Learning Credit, Nanny Tax, Retirement, Scholarships, Services, Social Security, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, tax write-offs, Taxpayer Certainty and Disaster Tax Relief Act (TCDTRA), TCJA, The Burns Firm|Tags: 1099, 2021 tax year tips, CPA Dallas, Dallas CPA, form 1040 tax preparer, North Texas accountant, North Texas accounting firm, North Texas CPA, North Texas CPA firm, tax preparer near me, tax return preparation, tax tips, tax tips to avoid hassles this tax season, Texas CPA, The Burns Firm, W2|

The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid [...]

Do Not Take Tax Chances on Gambling

October 12th, 2021|Categories: Accounting, CPA Dallas, Dallas CPA, Dallas tax return preparer, Tax, Tax Planning, Tax Preparation, Tax Return, The Burns Firm|Tags: accountant near me, accounting firm near me, are gambling winnings taxable, CPA Dallas, cpa near me, Dallas CPA, do I have to pay tax on my gambling winnings, do i need to report gambling winnings on my tax return, how do I keep record of my gambling winnings, how do I report my gambling winnings on my tax return, paying tax on what I win at a casino, tax and gambling, tax preparer near me, tax return preparation|

At the slots or online, remember to keep records. Gambling at the casino or the racetrack can be entertaining for many people. If you're one of them, you should obviously risk [...]

Selling a Home: Will You Owe Tax on the Profit?

September 21st, 2021|Categories: Accounting|Tags: can i deduct loss when i sell my home, CPA Dallas, cpa near me, Dallas CPA, gain above the exclusion amount when sell home, gain exclusion when selling a home, home sales and tax, if I sell my home will i have to pay tax on profits, NIIT, should i keep track of my basis on sell of home, tax on selling a home, tax preparer near me, tax return preparation, The Burns Firm|

Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median price of homes sold in July of 2021 rose [...]

Be Sure to Report Income From Tips on Your Tax Return

May 25th, 2021|Categories: Accounting, Burns Firm, Contractor, CPA Dallas, Dallas CPA, IRS, Tax, Tax Return, The Burns Firm|Tags: are tips taxable, CPA Dallas, Dallas CPA, do I have to pay tax on tips, do I include my tip money on my tax return, tax and tips, tax on tips, tax preparer near me, tax return preparation|

Information provided by IRS.gov Income received from any source, including tips, is taxable. Use the following guidelines to help report tip income. All tips that taxpayers receive are income and [...]

Why It’s Important to Meet Tax Return Filing and Payment Deadlines

April 29th, 2021|Categories: Accounting, Burns Firm, CPA Dallas, Dallas CPA, Tax, Tax Preparation, Tax Return|Tags: 2020 tax return, CPA Dallas, Dallas CPA, do i need to pay my tax bill when i file my return, irs penalties, is there a failure to file penalty, is there a penalty for late payment to the irs, reasonable cause and the irs, tax, tax liability and my tax return, tax return preparation, The Burns Firm, what is the deadline for paying the irs, will i owe money to the irs, will the irs forgive penalties|

The May 17 deadline for filing your 2020 individual tax return is coming up soon. It’s important to file and pay your tax return on time to avoid penalties imposed [...]

Unemployed Last Year? Buying Health Insurance This Year? You May Benefit From Favorable New Changes

April 20th, 2021|Categories: Accounting, Burns Firm, Covid-19, COVID-Related Tax Relief Act (COVIDTRA), CPA Dallas, Dallas CPA, IRS, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Preparation, Tax Return|Tags: changes to tax law, CPA Dallas, Dallas accounting firm, Dallas CPA, Dallas tax return preparation near me, North Texas accountant, tax changes for individual tax returns, tax preparer near me, tax return preparation, tax saving credits, tax savings, The Burns Firm, what credits am I eligible for on my tax return, what credits can I take on my tax return|

In recent months, there have been a number of tax changes that may affect your individual tax bill. Many of these changes were enacted to help mitigate the financial damage [...]

Home Sales: How to determine your “Basis”

April 13th, 2021|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Preparation|Tags: basis on sale of home, CPA Dallas, CPA firm, CPA firm in Dallas, CPA in North Texas, Dallas CPA firm, home sales and basis, how to determine basis on the sale of myu home, I need a CPA near me, North Dallas tax preparer, North Texas CPA firm, sale of home basis, tax basis on sale of home, tax preparation for 2020, tax preparer near me, tax return preparation, The Burns Firm|

The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your “basis.” How it [...]

New Law: Parents and Other Eligible Americans to Receive Direct Payments

March 18th, 2021|Categories: Accounting, American Rescue Plan Act, Burns Firm, Child Tax Credit, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Return|Tags: child tax credit, CPA Dallas, Dallas CPA, do I qualify for the American Rescue Plan Act, tax preparation, tax preparer near me, tax return preparation, tax return preparer near me, what credits can i get on my tax return, what is the American rescue plan act|

The American Rescue Plan Act, signed into law on March 11, provides a variety of tax and financial relief to help mitigate the effects of the COVID-19 pandemic. Among the [...]

Navigate the Tax Rules for Boats and RVs

March 11th, 2021|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation|Tags: accounting firm near me, can I, CPA, CPA Dallas, CPA firm near me, Dalals, tax filing, tax firm near me, tax preparation, tax preparation for 2020, tax return preparation, tax rules relating to RVs and Boats, The Burns Firm, who can prepare my personal tax return near me|

Will you be cruising the waters on your boat or camping out in your RV this year? Besides the pleasure you can enjoy through your personal property, you may also be [...]

If You Run a Business From Home, You Could Qualify For Home Office Deductions

March 9th, 2021|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: 2020 tax deductions, accountant near me, business deductions, cpa near me, home office tax deductions, run a business from home, tax preparer near me, tax prepartion, tax return deductions, tax return preparation, The Burns Firm, What are the home office deductions for tax year 2020, what can I deduct if I run a business from home, what can i deduct on my business tax return, what can i deduct on my personal tax return|

During the COVID-19 pandemic, many people are working from home. If you’re self-employed and run your business from your home or perform certain functions there, you might be able to [...]