The Sovereign CPA Blog Page
Why You Should Prepare for Retirement in Your 20s and 30s
Time goes in a flash. This might sound cliche, but every parent tries to warn their young children how quickly time will pass. Young people, however, have a difficult time understanding this. Yet, given the difficult financial and social circumstances of recent years, it’s become more common for young people to start planning for retirement
5 Tax Tips Every Small Business Owner Should Know in 2022
In addition to the day-to-day hustle and operations, small business owners must contend with the convoluted web of IRS regulations and requirements to ensure compliance and good standing. Embedded within the web of IRS regulations are plenty of business credits and deductions that can benefit the small business owner, but they are not always clear-cut
Opening a Business in 2022: Tax Strategies & Tips For Rising Above the Challenges
From sole proprietorships and small businesses to mid-size companies and corporations, the history of entrepreneurship and a go-getter attitude has a long-running history in this country. And yet, at the heels of the pandemic, at the door of rising inflation, and in the midst of political upheaval across the globe, is it a good idea
The Unique History of Charitable Contributions: Here’s What You Didn’t Know About the Tax Law
America is unique. Our society is still heavily based on the free market, the free exchange of ideas, freedom of association and choice, and individual rights. We don’t just lead the world in innovation and social change; we are also a leader in charitable contributions and causes. There are 1.54 million charitable organizations in the
Rebuild Your Small Business with Better Tax Strategies: Strengthening Businesses Through Expert Accounting Services
To the naked eye, accounting might appear as nothing more than punching numbers and glorified data entry. Not quite. The profession goes far beyond listing credits and debts. It is an extension of the business language and therefore intimately connected to all things financial. So how can this language of numbers translate to real-world solutions
Top 3 Tax Compliance Issues for Corporations & Small Businesses
America runs on the work ethic, innovation, and persistence of business owners and leaders who propel ideas forward. Running a business is hard work, and tax season adds a lot of tension as businesses must ensure accuracy and compliance with the complicated tax rules. For smaller businesses, in particular, the tax code can place a
Why Life Planning Matters: Tips for Living Retirement to its Fullest With Proven Financial Strategies
Life planning incorporates more than just financial decisions. There has been no radical change in the concept of retirement for the last couple of decades. In essence, you work, save, accumulate wealth, and then retire. But while the general trajectory is the same, retirement planning today requires the consideration of changing economic landscapes, increasing life
Investment Time Horizons: A Look at One Key Factor to Sound Financial Planning
If you go deep enough into any industry, there is plenty of jargon and terms that intimidate someone not deep in the lingo. Finance is no different and one of the reasons people often recoil when talking about their finances is that they feel out of their element. The insufficiencies of our education system to
Accounting Services for Service Industries and Restaurants in 2021
Every business needs to keep track of its financial information—whether it’s profits, expenditures, wages, and other necessary data to maintain financial order. Good accounting tells a true story of your business’s financial state; it helps with understanding where you stand and helps projections for the future. Sovereign CPA works with small businesses across all industries.
