Tax Strategy Finder

Personalized Tax Reduction Strategies. In Under 2 Minutes.

Get Free, Tailored Results Based on Your Situation—Instantly

Most business owners and individual taxpayers overpay—not because they want to, but because no one has shown them what’s possible.

Polaris is changing that.

Our free tool gives you a fast, personalized preview of tax-saving strategies based on your real-world scenario—no spreadsheets, no jargon, no pressure.

How It Works

🟦 Tell us about yourself
Answer a few quick questions—your name, contact info, and a snapshot of your financial or business situation.

🟦 Select what applies to you
Whether you own a business, have real estate, dependents, retirement savings, or give to charity—we capture what matters.

🟦 Instantly view potential strategies
See a customized list of IRS-approved tax strategies commonly used in similar scenarios. These are often missed—until now.

Ready to See What Strategies Might Apply to You?

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Here Are Your Personalized Tax Strategies

Thanks for sharing your details! Based on your answers, you’ll see below a curated list of tactics designed to help you maximize your tax savings. These are just highlights—if you’d like a deeper dive and a custom plan, schedule your complimentary strategy session today.

🏢 Home Office Deduction

If you run a business from home, you may be able to deduct a portion of your living expenses. This includes things like utilities, homeowners insurance, internet, and maintenance—based on the percentage of your home that’s used exclusively and regularly for business. It’s a simple way to turn personal expenses into business write-offs if you qualify.

🏢 Hiring Children

Business owners can pay their children reasonable wages for legitimate work performed in the business, such as helping with administrative tasks, social media, filing, or deliveries. These wages are a deductible expense to your business, and if your child earns less than the standard deduction, they typically owe no federal income tax. This lets you reduce your tax bill while teaching your children real-life skills—and often fund their savings or education.

🏢 S Corporation Election

If you're currently operating as a sole proprietor or a single-member LLC, switching to an S Corporation can lower your overall tax liability. As an S Corp owner, you split your income between a salary (which is taxed like wages) and profit distributions (which are not subject to self-employment tax). This allows you to reduce payroll tax on a portion of your income—if structured and maintained properly.

🏢 Travel Deduction

Business travel—whether for client meetings, conferences, or exploring new business opportunities—can be a deductible expense. If planned correctly, you can deduct flights, lodging, meals, and ground transportation. Even if the trip includes personal time, you can still deduct the business portion. This strategy helps turn essential business trips into tax-reducing opportunities.

🏢 Augusta Loophole

You can rent your personal residence to your business for up to 14 days per year and receive that rental income tax-free. The business gets a deduction for the rental cost (usually for meetings or retreats), and you don’t have to report that income on your personal return. This strategy works best when supported with documentation showing fair rental value and business purpose.

🏢 Defined Benefit Plan

For high-income business owners looking to reduce taxes and supercharge retirement, a defined benefit plan allows for very large contributions—often $100,000 or more annually. Contributions are fully deductible, grow tax-deferred, and provide a guaranteed stream of income in retirement. This strategy is ideal for those with steady profits who are behind on retirement savings or looking for advanced tax sheltering.

🏢 Solo 401(k)

If you own a business with no employees (except possibly a spouse), a Solo 401(k) lets you contribute as both an employer and employee. This means much higher contribution limits than traditional retirement plans. It reduces your taxable income now while growing your retirement savings faster. It’s especially useful for side hustles or consultants.

🏢 Expense Acceleration

You can lower your taxable income by pushing more deductible business expenses into the current year. This includes things like office supplies, equipment purchases, software subscriptions, or even prepaying vendor services. If your income is unusually high this year, accelerating expenses lets you reduce your tax liability while still spending on things you need.

🏢 Income Deferral

If you're expecting a high tax bill this year, consider delaying income into the next tax year. This could mean holding off on invoicing, collecting payments, or closing deals until after December 31. Deferring income helps you stay in a lower tax bracket and gives you more flexibility to manage your cash flow and tax exposure over time.

🏠 Short-Term Rental Exception

If you rent out property for short-term stays—on platforms like Airbnb or VRBO—and you actively manage the property, your rental income might be treated more like business income than passive investment income. That means you could deduct losses against other income, such as your salary or business income, which is normally not allowed for rental properties. This can result in significant tax savings if your property operates at a loss due to depreciation, cleaning, supplies, or repairs.

🏠 1031 Exchange

If you’re selling an investment property and plan to buy another one, a 1031 exchange lets you delay paying taxes on the capital gains. As long as you follow the rules—such as identifying the new property within 45 days and closing within 180 days—you can roll your profit into the new investment and defer taxes until you eventually cash out. It’s a great strategy to grow your real estate portfolio while keeping more money working for you.

🏠 Installment Sale

Instead of receiving all the money upfront when you sell a property, you can choose to spread out payments over time through an installment sale. This spreads out the gain and the related taxes over several years, potentially keeping you in a lower tax bracket and easing the tax impact. It’s useful when selling to someone you trust—like a tenant, investor, or family member—and when you don’t need all the cash at once.

🏠 Cost Segregation Study

When you buy or own rental property, a cost segregation study breaks the property into components (like flooring, appliances, and fixtures) that depreciate faster than the building itself. This allows you to claim bigger depreciation deductions sooner, reducing your taxable income today. It’s especially powerful for high-income investors or newly purchased properties with large improvement costs.

🏠 Refinance Instead of Sell

If your property has appreciated in value and you want access to cash, refinancing allows you to borrow against your equity without triggering taxes. Unlike selling, there’s no capital gain recognized when you take a loan—and you can continue claiming depreciation and other tax benefits. This strategy helps you unlock value while keeping your real estate working for you.

👨‍👩‍👧‍👦 Dependent Care FSA

If you and your spouse work and pay for child care, you may be able to use a Dependent Care Flexible Spending Account (FSA) through your employer. You can contribute up to $5,000 per household with pre-tax dollars to cover things like daycare, preschool, after-school programs, or summer camps. This reduces your taxable income while covering expenses you already pay.

👨‍👩‍👧‍👦 529 Plan

A 529 Plan is a tax-advantaged savings account for education expenses. You put in after-tax dollars, but the money grows tax-free and can be withdrawn tax-free when used for qualified education costs like tuition, books, and even private K-12 schools in some states. It’s one of the most efficient ways to save for your child’s or grandchild’s future education.

👨‍👩‍👧‍👦 Roth IRA for Kids

If your child has earned income from a job—like babysitting, lawn care, or working in your business—they can contribute to a Roth IRA. These contributions grow tax-free, and withdrawals in retirement are also tax-free. Starting early means they can take advantage of decades of compounding growth. Even small amounts invested now can lead to big savings later.

🎁 Gifting Appreciated Assets

Instead of donating cash to charity or transferring money to family, you can give stocks, crypto, or real estate that has gone up in value. By donating these appreciated assets directly, you avoid paying capital gains tax and still receive a deduction for the full market value. It’s a double benefit—lower taxes and higher impact.

👨‍👩‍👧‍👦 Roth IRA for Kids

These are accounts set up in a child’s name for future expenses like college, car purchases, or setting up savings habits. Parents control the money until the child reaches adulthood. While income in the account is taxed at the child’s lower rate, you lose some tax control once the child takes over. These accounts are useful for gifts and building financial literacy.

🎁 Donor-Advised Fund

A Donor-Advised Fund lets you make a large charitable contribution in one year to get a tax deduction now, while distributing the money to charities over time. You can donate cash or appreciated assets, and the funds can grow tax-free inside the account. It’s ideal for people who want to plan their giving and reduce taxes in a high-income year.

🎁 Qualified Charitable Distribution (QCD)

If you’re age 70½ or older and have a traditional IRA, you can donate up to $100,000 per year directly to charity without paying income tax on the distribution. This counts toward your required minimum distributions (RMDs) and lowers your taxable income, even if you don’t itemize deductions.

📈 Tax-Loss Harvesting

If you have investments that have dropped in value, you can sell them to lock in the losses and use those losses to reduce your taxes. The losses can offset gains from other investments or even reduce up to $3,000 of your regular income per year. This strategy is especially helpful at year-end and can help clean up underperforming assets while keeping your tax bill lower.

📈 Roth IRA Conversion

If you expect your income to be lower than usual this year—or if you want tax-free growth later on—a Roth conversion can make sense. This strategy involves moving money from a pre-tax IRA to a Roth IRA. You’ll pay tax on the conversion now, but then the money grows and can be withdrawn tax-free in retirement. It’s a long-term planning tool that works best when timed during lower-income years.High earners who can’t directly contribute to a Roth IRA can still get money into one through a two-step process called a backdoor Roth. First, you contribute to a traditional IRA (non-deductible), then convert that money to a Roth. It’s a legal workaround that gets funds into a tax-free retirement account even if your income is too high for normal contributions.

📈 Asset Location Optimization

Different types of investments are taxed differently depending on where you hold them. For example, interest from bonds is taxed every year, while stock gains may not be taxed until you sell. Asset location means putting tax-heavy investments (like bonds or REITs) inside retirement accounts, and tax-efficient ones (like index funds) in taxable accounts. This helps you pay less in taxes overall, even with the same investments.

💊 Health Savings Account (HSA)

HSA contributions are tax-deductible, grow tax-free, and can be withdrawn tax-free for medical expenses—triple tax benefit.

💊 Self-Employed Health Insurance Deduction

Deduct the full cost of your health insurance premiums directly on your individual tax return if you’re self-employed.

Why We Created This Tool

At Polaris, we believe tax planning should be proactive, not reactive.

Too many people are surprised by a big tax bill in April—because no one had the tax conversation during the year. This tool changes that. It gives you a preview of what’s possible, so you can take action before it’s too late.

If you like what you see, we’re here to help turn insight into real savings.

Disclaimer:

The Polaris Tax Strategy Finder is for educational purposes only and does not constitute formal tax, legal, or financial advice. The results are based on your responses and are intended to illustrate common strategies used in similar situations. Before implementing any tax strategy, consult a qualified tax professional to confirm eligibility, quantify your potential savings, and ensure compliance with current IRS rules. Polaris Tax & Accounting is not liable for decisions made solely on the tool’s output without a formal consultation.