The Burgess Group, PA

The Burgess Group, PA The Burgess Group, PA is a Flowood, MS CPA firm. We provide accounting, tax, payroll and consulting MS CPA firm permit number. F0862

Our firm mission for individuals is to assist with tax return preparation and planning for transitional life events. Our firm mission for businesses is to assist with income tax preparation, payroll, accounting and planning for business transactions. We strive to customize and individualize our services for each client in order to maintain long term, valuable relationships.

Certain “small” businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, wh...
07/31/2026

Certain “small” businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, which route should you take?

Cash-basis businesses recognize income when received and deduct expenses when paid, providing greater flexibility in the timing of income and deductions. In contrast, accrual-basis businesses recognize income when earned and deduct expenses when incurred, regardless of the timing of cash receipts or payments.

Even if you meet the eligibility requirements, the cash method isn’t right for every business. And switching methods adds administrative costs. Contact us to learn more about each option.

It’s easy to focus on the excitement of a big win. But before you spend lottery, gambling or other winnings, be sure you...
07/31/2026

It’s easy to focus on the excitement of a big win. But before you spend lottery, gambling or other winnings, be sure you understand the tax impact.

Federal tax law generally treats such winnings as taxable income. Knowing the basic rules can help you avoid surprises when you file your 2026 return next year. For example, if you win more than $5,000, generally the payer (lottery agency, casino, etc.) will withhold 24% for federal tax purposes — which may or may not be enough to cover your tax liability — and send you and the IRS a Form W-2G showing the winnings paid and tax withheld.

New tax rules may significantly reduce the cost of providing child care to your employees. Starting in 2026, the employe...
07/30/2026

New tax rules may significantly reduce the cost of providing child care to your employees. Starting in 2026, the employer-provided child care credit generally equals 40% of qualified facility expenses (up from 25%), plus 10% of qualified resource and referral costs, up to $500,000 (up from $150,000). Small businesses may qualify for a 50% rate on qualified facility expenses and a $600,000 limit.

The credit may apply to operating your own facility, contracting with a qualified provider or participating in a jointly operated arrangement. But eligibility, additional limits and recapture rules require careful review.

Contact us for help evaluating your options and projecting the credit’s value.

Mutual funds offer an easy way to invest in a diversified portfolio. But the tax treatment isn’t so simple.One challenge...
07/30/2026

Mutual funds offer an easy way to invest in a diversified portfolio. But the tax treatment isn’t so simple.

One challenge is that certain mutual fund transactions are treated as sales even though they might not seem like it. Another is that determining your tax basis for shares sold can be complicated, especially if you dispose of only part of your interest in the fund and the shares were acquired at different times for different prices. Also, mutual fund capital gains distributions are generally taxable, even when reinvested in the fund.

If you have questions about the tax treatment of mutual funds, contact us. We can help you be a tax-smart mutual fund investor.

IRS or state tax problems don’t have to derail your business. Many issues can be resolved when they’re addressed promptl...
07/29/2026

IRS or state tax problems don’t have to derail your business. Many issues can be resolved when they’re addressed promptly and strategically.

If you or your business receives a tax notice from the IRS or a state agency, don’t ignore it. Be mindful of the notice’s deadline and work with your tax advisor to prepare supporting documentation and an appropriate response. If you owe back taxes that you can’t pay in full, explore potential relief options, such as a temporary delay in collection due to hardship, an installment agreement or payment plan, or a settlement plan.

We can help you communicate with tax authorities and create a plan to get your business back on track. Contact us to learn more.

Have you made contributions to charity this year? Are you considering making more? If so, it’s important to be familiar ...
07/29/2026

Have you made contributions to charity this year? Are you considering making more? If so, it’s important to be familiar with the tax rules so you can maximize your tax benefit.

This is especially important for tax year 2026, since taxpayers who do not itemize may now be able to deduct up to $1,000 in cash contributions – or $2,000 for married taxpayers filing jointly – made to certain qualified organizations.

You can use the Tax Exempt Organization Search tool on https://bit.ly/2qDnQsI to find organizations which are eligible to receive tax-deductible contributions.

You should keep proof of ALL donations, whether donations are cash, check, other monetary gift, or non-cash. Records should show the organization's name, the date of the contribution, the amount donated, and whether the organization provided any goods or services in exchange for the gift. For non-cash donations, you should also keep records describing donated property and its fair market value.

Special rules apply to large donations and certain types of property donations. See the recent IRS tax tip for more information.

Summer is a good time to see whether your income, deductions and investment activity are lining up as expected. Reviewin...
07/10/2026

Summer is a good time to see whether your income, deductions and investment activity are lining up as expected. Reviewing your tax picture now gives you more time to take steps to reduce or defer taxes. For example, if you expect this year’s income to be near the threshold for a higher bracket, consider strategies for reducing your taxable income to stay out of that bracket. If you’ve realized, or expect to realize, significant capital gains this year, consider selling some depreciated investments to generate losses you can use to offset those gains. And if you’d like help evaluating these and other midyear tax strategies, contact us.

The Burgess Group is seeking an experienced, detail-oriented Senior Tax Accountant to join our growing team. This is a f...
07/09/2026

The Burgess Group is seeking an experienced, detail-oriented Senior Tax Accountant to join our growing team. This is a full-time position located at our Flowood office. Complete details are available on our website at https://bit.ly/4aMKuSl.

Scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to crea...
06/19/2026

Scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to create urgency or fear to trick victims into sharing sensitive information or sending money.

Remember, the IRS will never contact you by email or text about a tax bill or refund. It also won’t demand immediate payment over the phone. Most IRS communications are sent through regular mail — though fraudsters may send fake IRS notices by mail, often including QR codes.

Don’t click on links, open attachments or scan QR codes from unknown senders that might direct you to fraudulent websites designed to steal personal or financial information. Contact us if you have questions.

Self-employed individuals often miss legitimate tax savings because they fail to keep adequate records or misunderstand ...
06/18/2026

Self-employed individuals often miss legitimate tax savings because they fail to keep adequate records or misunderstand the rules. Don’t let this happen to you.

Follow this golden rule: Business expenses must be ordinary (common in your industry) and necessary (helpful and appropriate for the business). Of course, you can deduct supplies, materials, and employee payroll and benefits. But don’t overlook other deductible costs — such as for your home office, education, business meals and travel, and business vehicles.

We can help you identify qualifying business expense deductions and establish recordkeeping practices that support them. Contact us to learn more.

Address

2506 Lakeland Drive
Flowood, MS
39232

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

(601) 939-7116

Website

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