Blog & Articles2019-10-30T11:05:13+00:00

Blog & Articles

POLARIS TAX & ACCOUNTING

IRS Disaster Relief—What You Can Deduct, Defer, and Claim Tax-Free

By |April 30th, 2025|

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

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How to Get Reimbursed by Your C or S Corp—The IRS-Approved Way

By |April 30th, 2025|

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

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How to Deduct Disaster Losses—What Florida Residents Need to Know

By |April 30th, 2025|

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

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Beat the Taxman—Use QCDs to Kill Your RMD

By |April 30th, 2025|

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

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Beat the IRS Estimated Tax Penalty with Strategic Withholding

By |April 30th, 2025|

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

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Statutory Employees—What They Are and Why It Matters

By |April 30th, 2025|

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

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New Freelancer Laws in CA, IL, and NY – What Florida Businesses Should Know

By |April 30th, 2025|

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

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How to Get a Second Opinion on Your Tax Return

By |April 30th, 2025|

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

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Top Red Flags Your Accountant May Be Hiding

By |April 30th, 2025|

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

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What to Know Before Switching Accountants in Florida

By |April 30th, 2025|

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

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Corporate Transparency Act Update: Temporary Pause on FinCEN’s BOI Reporting Enforcement: Key Insights for Businesses

By |December 8th, 2024|

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)

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