Blog & Articles

If you’ve been impacted by a hurricane, flood, wildfire, or other major disaster, the IRS may offer more relief than you think. Whether you’re in Florida or elsewhere, federally declared disaster zones unlock a variety

Running a business through a corporation has tax perks—but only if you play by the rules. One of the most overlooked? Properly reimbursing yourself for business expenses. At Polaris Tax & Accounting, we regularly help

If you’re self-employed with no employees, you’ve got a golden opportunity to reduce your tax liability and build serious retirement wealth—if you act before filing your 2024 return. Too many freelancers, consultants, and one-person S

If you bought a 2022 Tesla Model X (or similar SUV) and claimed 100% bonus depreciation—you’re not alone. And if the IRS tries to disallow your deduction, here’s how to fight back. The IRS has

When disaster strikes—wildfires, floods, hurricanes—tax relief might be the last thing on your mind. But understanding how to deduct personal disaster losses can save you thousands. If you’re a Florida resident or impacted by recent

If you're 70 1/2 or older with a traditional IRA, there's a tax-saving strategy the IRS doesn’t advertise—but we will: the Qualified Charitable Distribution (QCD). Starting at age 73, you’re required to take minimum distributions

Trying to get more money into a Roth IRA but blocked by income limits? You’ve probably heard of the backdoor Roth—but is it safe? Backdoor Roth IRA conversions have become a popular strategy for high-income

Trying to get more money into a Roth IRA but blocked by income limits? You’ve probably heard of the backdoor Roth—but is it safe? Backdoor Roth IRA conversions have become a popular strategy for high-income

If you’re self-employed or making quarterly tax payments, you may be paying more than you have to. The IRS charges penalties for underpaid estimated taxes—and those penalties aren’t tax-deductible. That means you could end up

Think you’ve classified your workers correctly? There’s one exception you can’t afford to miss: statutory employees. Most business owners understand the basic difference between employees and independent contractors. But buried in the tax code is

If your Florida-based business hires freelancers across state lines, this could impact you. Freelancers, also known as independent contractors, play a critical role in today’s flexible workforce—but new laws in California, Illinois, and New York

If something doesn’t feel right about your last tax return, trust your gut—and get a second opinion. We see it all the time. Clients come to us after receiving an unexpected IRS notice, realizing they

If you’ve had doubts about your accountant lately, here are the red flags you can’t afford to ignore. You deserve more than rushed returns and radio silence. Whether you're self-employed, own rental properties, or run

Thinking about switching accountants? You're not alone. Here’s what you need to know before you make the move. Whether you’re a small business owner, real estate investor, or W-2 professional, your relationship with your accountant

A recent ruling by the U.S. District Court for the Eastern District of Texas has resulted in a temporary halt on the enforcement of the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI)