Three Ways to Get Tax Breaks for Home Improvements
Are you planning to make substantial renovations to your home? You may be adding a deck or patio, finishing a basement or attic or installing a pool. Despite some changes [...]
Ideas to Lower Your Taxes for 2019
Tax season is well under way. Have you filed (or extended) your individual federal tax return for 2019 yet? You may still have time to make some moves between now and [...]
Reasons Why Married Couples Might Want to File Separate Tax Returns
Married couples often wonder whether they should file joint or separate tax returns. The answer depends on your individual tax situation. It generally depends on which filing status results in [...]
The Tax Aspects of Selling Mutual Fund Shares
Perhaps you’re an investor in mutual funds or you’re interested in putting some money into them. You’re not alone. The Investment Company Institute estimates that 56.2 million households owned mutual [...]
Is This the Right Time to Sell Your Business?
Selling a business requires a great deal of time and effort on both the buyer's and seller's behalf. In addition, determining the right time to finalize the transaction can make [...]
Taxpayers Should Know the Difference Between Standard and Itemized Deductions
Information from irs.gov Should you file using the standard deduction, or should you itemize your deductions? Deductions reduce the amount of taxable income when filing a federal income tax return. [...]
Numerous Tax Limits Affecting Businesses Have Increased for 2020
An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your [...]
QBI Deduction Safe Harbor Rule for Rental Real Estate
The Tax Cuts and Jobs Act (TCJA) introduced a new deduction for individuals, estates and trusts that own interests in so-called "pass-through" business entities for 2018 through 2025. The deduction can [...]
Deducting Medical Expenses for 2019 and Beyond
Under current tax law, medical expenses can be deducted as an itemized deduction on your federal income tax return only to the extent that they exceed 7.5% of adjusted gross income [...]
10 Tax Elections to Save Money on Your 2019 Tax Return
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 [...]
Can You Deduct Charitable Gifts on Your Tax Return?
Many taxpayers make charitable gifts — because they’re generous and they want to save money on their federal tax bills. But with the tax law changes that went into effect [...]
Koeppel Direct Has Been Acquired by Christena Garduno and CAG Ventures, Inc.
Dallas, January 2020 – The Burns Firm M&A Advisors (“Burns”) is pleased to announce the acquisition of Koeppel Direct (“Koeppel”) by Christena Garduno and CAG Ventures, Inc. (“Garduno”). Burns served [...]
4 New Law Changes That May Affect Your Retirement Plan
If you save for retirement with an IRA or other plan, you’ll be interested to know that Congress recently passed a law that makes significant modifications to these accounts. The [...]
New Law Provides a Variety of Tax Breaks to Businesses and Employers
While you were celebrating the holidays, you may not have noticed that Congress passed a law with a grab bag of provisions that provide tax relief to businesses and employers. [...]