Polaris Tax & Accounting Newsletter – June 2024 New Crypto Tax Reporting Rules Are Here If you invest or trade in Bitcoin, non-fungible tokens (NFTs), Stablecoins, or other digital assets, prepare for new tax reporting requirements starting soon. Congress aims to ensure taxpayers report and pay taxes on crypto gains. To achieve this, new regulations…

Thank you for choosing Polaris Tax & Accounting to assist you with your taxes. This letter confirms the terms of our engagement and outlines the nature and extent of the services we will provide. Scope of Services: We will prepare your federal and state income tax returns. Before electronically submitting the returns to the Internal…

At Polaris Tax & Accounting, we understand the importance of maintaining a personal connection with our clients. Our commitment to delivering top-notch service has never wavered and we want to address some common concerns and highlight how we blend the best of both worlds: personalized service and cutting-edge technology. The Myth of Impersonal Technology One…

Tax-Saving Tips April 2024 Transform Your Vacation into Tax-Deductible Business Travel with Polaris Tax & Accounting Discover the secret to turning your next vacation into a savvy tax-saving opportunity with Polaris Tax & Accounting. With strategic planning, your journey to any destination can become a fully deductible business expense. From airfare, including first-class options, to…

Understanding IRS Tax Monitoring Services What Is IRS Tax Monitoring? IRS Tax Monitoring is a systematic and comprehensive review of your IRS Tax Account. It involves monitoring your tax history, ongoing filing activity, and any significant changes or transactions related to your tax account. Here are some key aspects of tax monitoring: Full Transaction History: Tax monitoring…

New FinCEN Filings Go into Effect on January 1 Effective January 1, 2024, the Corporate Transparency Act (CTA) brings forth significant changes for established businesses, mandating a fresh federal filing obligation. This applies to most corporations, limited liability companies (LLCs), limited partnerships, and select other business entities. Before December 31, 2024, all non-exempt business entities…

Maximize Your Tax Deductions: Tailored Small Business Tax Preparation Services in Asheville, NC Unlock significant tax savings with our expert tax preparation services for small businesses in Asheville, NC. Discover strategic tips and insights to minimize your tax liability and keep more cash in your pocket. Explore these SEO-optimized strategies designed for simplicity and implementation…