A 2018 survey conducted by Accounting Today reveals that most business owners want their Accountant to be their Trusted Advisor, not just a professional that can assist them with Accounting and Tax. But what are the qualities and benefits of
Polaris Tax & Accounting Blogs & Articles
Latest from Polaris Tax & Accounting Blogs & Articles - Page 3
Avoid these Four Common Businesses Tax Errors
By Joe Serrone
Business owners often wear many different hats, from Marketing Specialist to Chief Financial Officer. When it comes to Accounting and Taxation, you might be tempted to implement a DIY approach rather than engage with an Accounting Firm to assist in…
2019 Last-Minute Year-End General Business Income Tax Deductions
By Joe Serrone
The goal of this strategy is to get the IRS to owe you money. Of course, the IRS is not likely to cut you a check for this money (although in the right circumstances, that will happen), but you’ll realize…
Law Firm Accounting, Pitfalls and Best Practices
By Joe Serrone
Law Firms often struggle to properly setup, manage and maintain an effective Accounting process. You are an Attorney, not an Accountant, and Law Firm Accounting can be very challenging. In this article, we explore Accounting Best Practices and Pitfalls for…
Tax Issues of Converting Your Residence into a Rental Property
By Joe Serrone
The simple maneuver of converting your personal residence to a rental property brings with it many tax rules, mostly good when you know how they work. The first question that arises when you convert a personal residence into a rental is…
Know Whether Your Trip Is a Deductible Business Expense
By Joe Serrone
To help you understand business travel, consider this: You planned a personal trip to Los Angeles, arriving on Friday afternoon and leaving on Sunday afternoon. About a week later, you learn that a vendor you need to meet with is going…
Do I really need to work with an Accountant?
By Joe Serrone
Why do I need to work with an Accountant anymore when popular accounting software like Quickbooks, Xero, Wave, and Freshbooks can connect to my bank account and automatically record transactions? This is a popular question most accountants are facing these…
Why You Need a real-time approach to Bookkeeping and Accounting?
By Joe Serrone
Bookkeeping and Accounting can be boring, we know! Yet, it is an essential part of your business because it gives you clear information about the health of your business, your overall cash flow, how much money is truly available in…