In our article: Bookkeeping Services for Small Businesses we discussed how outsourcing your business Accounting and Tax reporting to a professional firm can result in significant benefits beyond just saving time and reducing stress. In this article however, we will
Polaris Tax & Accounting
There’s a difference between an Accountant and a Trusted Advisor, we take a proactive approach to Accounting and Tax so that we can become an integral part of your team and help you achieve your goals. At Polaris Tax & Accounting we put the priority on being proactive and ensuring you have a Trusted Advisor rather than just an Accountant.
Website:
https://polaristaxandaccounting.com/
The New W 4 Form
By Joe Serrone
The IRS has released a new W 4 form starting in the fiscal year 2020. The change was needed to account for the removal of Personal Exception implemented from the Tax Cuts and Jobs Act (TCJA). The W-4 form estimates…
Chart of Accounts: The Ultimate Guide with examples
By Joe Serrone
The Chart of Accounts is one of those unknown parts of your accounting software we don’t even think about. What most entrepreneurs don’t realize is that the chart of accounts represents the foundation of your accounting process, if you don’t…
Bookkeeping Services for Small Business
By Joe Serrone
According to a survey conducted by SCORE, most small business owners spend at least $1,000 per year on accounting administrative costs. Survey after survey, highlight how bookkeeping continues to be the least favorite activity by entrepreneurs. Bookkeeping Services for Small…
Virtual Tax Preparation the easy way
By Joe Serrone
A recent survey by Nerdwallet shows that more than 1 in 3 U.S. taxpayers whose household income is less than $50,000 a year hired a tax professional to assist with the preparation of their Income Tax Returns. However, in the…
12 Ways to Pay Less in Taxes and Save Money
By Joe Serrone
When we meet with new clients and business owners, we often hear that their major priority is to find ways to pay less in taxes and save money for other initiatives including growing their business, retirement and charitable projects. One…
Understanding Employee vs. Contractor Designation
By Joe Serrone
Payments to Contractors is one of the top 21 small business tax deductions reported by business owners in their Profit & Loss Statements. This expense is also heavily scrutinized by both the IRS and State Taxing Authorities during an audit,…
The Difference Between Bookkeepers, Accountants and Trusted Advisors
By Joe Serrone
Business owners will often use the term Bookkeeper and Accountant interchangeably, while these roles might appear to be the same on the surface, there are some important differences between both roles. Additionally, the role of a Trusted Advisor is often…
Taking a Holistic Approach to Your Finances
By Joe Serrone
Accounting & Tax is often thought of as a profession that is reactive in nature, rather than proactive. When your Accountant prepares your yearly financial records for your business or files your Tax Returns, he or she is doing this…
Small Business Tax Deductions for 2020
By Joe Serrone
Small Business Tax Deductions are critical in order to reduce your tax liability because they directly reduce Taxable Income. Taking advantage of every single potential tax deduction is the most effective way you can reduce your taxes. In this article,…