Burns Tax & Accounting

Burns Tax & Accounting If you are looking for a blend of personal service and expertise, you have come to the right place!

We offer a broad range of services for business owners, executives and independent professionals. * Federal and State Income Taxes (individual, small business, farms, trusts, estates)
* Full Payroll Services
* Sales Tax Returns
* Other Regulatory Filings
* Full General Ledger Accounting Services
* Financial Statement Preparation
* Expeience in Governmental and not-for-profit accounting issues

If you’re thinking about relocating, don’t choose a new state based only on climate, cost of living or proximity to fami...
06/02/2026

If you’re thinking about relocating, don’t choose a new state based only on climate, cost of living or proximity to family. Also review the tax implications.
For example, some states don’t have a personal income tax, and some that do have one offer tax breaks for pension payments, retirement plan distributions and Social Security payments. Also be aware that a state with no personal income tax may impose high property, sales or estate taxes.
Before making a move, contact us at (479) 839-2900 to review the potential income, property, sales and estate tax implications. We can help you minimize potential negative tax consequences and make the most of any tax advantages offered by the new state.

Are tax problems weighing on you? If you’re facing IRS notices, unfiled tax returns or mounting tax debt, acting quickly...
06/01/2026

Are tax problems weighing on you? If you’re facing IRS notices, unfiled tax returns or mounting tax debt, acting quickly can make a difference. We can help you evaluate resolution options and work with the IRS to possibly reduce the burden. Call us at (479) 839-2900 to discuss your situation and explore next steps.

06/01/2026

When you wonder why it takes months or even years to solve an IRS problem, here is a big part of the reason. This is attempt #71 to reach the IRS’s Practitioner “Priority” line since mid April. Watch the video and you will see, it isn’t even a matter of waiting through the hold time. Their phones are so jammed you can’t even get on hold.

Ugh!!!!!!

Does your business own commercial real property? A closer look at your building costs could change how quickly you can d...
05/28/2026

Does your business own commercial real property? A closer look at your building costs could change how quickly you can deduct those expenses.

Business buildings generally have a 39-year depreciation period. A cost segregation study separates various building components, such as electrical systems and flooring. It then allows these components to be reclassified and deducted over a much shorter period, thereby deferring taxes and boosting cash flow. Recent tax law changes enhanced these benefits by increasing first-year depreciation write-offs.

Call us at (479) 839-2900 to discuss whether this strategy is right for your business. We can determine reasonable cost allocations to help withstand IRS scrutiny.

While the thresholds for the 3.8% net investment income tax (NIIT) have remained unchanged since the NIIT went into effe...
05/27/2026

While the thresholds for the 3.8% net investment income tax (NIIT) have remained unchanged since the NIIT went into effect in 2013, taxpayer incomes have generally grown significantly. So more taxpayers are getting hit with this additional tax. The NIIT applies to the lesser of your net investment income or the amount by which your modified adjusted gross income exceeds the applicable threshold. And it kicks in long before the top short- and long-term capital gains rates apply. We can help you manage potential NIIT exposure. Contact us at (479) 839-2900.

Many taxpayers discover at filing time that their tax payments during the year didn’t align with their actual liability ...
05/26/2026

Many taxpayers discover at filing time that their tax payments during the year didn’t align with their actual liability — either too much or too little was withheld from their paychecks. Keeping withholding aligned with expected tax liability can help you enjoy better cash flow during the year and avoid unwelcome surprises at filing time.
If you received a large refund or owed a lot of tax when you filed your 2025 return, it may be beneficial to fine-tune your withholding for 2026. Adjustments may also be a good idea if you experience a major life event, such as having a child.
We can help you review your withholding (and estimated tax payments, if applicable) and make any needed changes. Call us at (479) 839-2900 to get started.

It’s almost never too late to start planning for retirement. Whether you already have large 401(k) or IRA balances or ar...
05/25/2026

It’s almost never too late to start planning for retirement. Whether you already have large 401(k) or IRA balances or are starting from scratch, we can help craft a strategy that reflects your personal situation and addresses your goals. So start thinking about what’s important to you: Building a big nest egg, reducing income tax liability, something else … We’re here to help make it possible!

C corporation shareholders usually owe tax on gains from selling stock. But qualified small business (QSB) stock sales m...
05/21/2026

C corporation shareholders usually owe tax on gains from selling stock. But qualified small business (QSB) stock sales may qualify for a special gain exclusion. To be eligible for this break, certain requirements must be met.

QSB stock acquired after Sept. 27, 2010, may be eligible for a 100% gain exclusion if it’s held for at least five years. Under recent tax law changes, QSB stock acquired after July 4, 2025, may be eligible for a partial gain exclusion if it’s held for at least three years.

Call us at (479) 839-2900 to learn whether this tax-saving strategy is right for your business. We can help structure your business to unlock the potential tax savings and navigate the complex rules.

Business owners: If you’re only reaching out at tax time, you may be missing some valuable insights. Why stop at tax fil...
05/20/2026

Business owners: If you’re only reaching out at tax time, you may be missing some valuable insights. Why stop at tax filings? Let us help you make smarter business decisions year-round — from improving cash flow to navigating economic uncertainty to planning for growth. Please call us at (479) 839-2900 to learn more about how we can support your strategic goals.

Large stock market gains in recent years, coupled with volatility in 2026, may have left you with a portfolio that’s out...
05/19/2026

Large stock market gains in recent years, coupled with volatility in 2026, may have left you with a portfolio that’s out of balance with your desired asset allocation. If you haven’t rebalanced recently, it may be time. Careful planning can minimize the tax cost. Say your portfolio is overweighted in large-cap U.S. stocks. You can save 2026 taxes if you sell some of this appreciated stock from a retirement account because the gain won’t be taxed. If you need to sell the stock from a taxable account, see whether there are assets in the account you can sell at a loss. The recognized loss can offset some or all of your capital gains. Contact us at (479) 839-2900 to discuss other tax-smart strategies.

Address

425 N Centennial Avenue
West Fork, AR
72774

Opening Hours

Monday 9am - 4pm
Tuesday 9am - 4pm
Wednesday 9am - 4pm
Thursday 9am - 12pm

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