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 …
Why You Should Prepare for Retirement in Your 20s and 30s Read More »
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 …
5 Tax Tips Every Small Business Owner Should Know Read More »
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 …
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 …
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. …
Accounting Services for Service Industries and Restaurants in 2021 Read More »
A CPA can help small businesses assess their current situation and start anew in 2021. Find out how a professional accountant can help your business reorganize and push through.
Henry David Thoreau—the beloved American essayist known for his love of nature and simple living—once said, “Wealth is the ability to fully experience life.” This can be read in two ways, and there is certainly some truth to both. Money is a mysterious thing. By itself, it doesn’t induce happiness, but it can allow for …
The Importance of Personal and Business Financial Planning Read More »
The coronavirus pandemic continues to force the global economy to change and adjust, with many small businesses getting caught in the fray. For small business owners across America, times are tough and the future seems rocky and uncertain. In the face of this virus, there are ways that you can put your business in the …
8 Tips For Navigating Stormy Times With Your Business Read More »
In addition to all the normal stressors of owning and maintaining a small business, the prospect of being audited simply adds to that stress. That stress is sometimes warranted—audits can lead to paying substantial fines or even prison time for those held responsible. The best way to avoid extra fines and jail time is to …
Small Business Red Flags: Tips To Avoid An Audit Read More »
At Sovereign, we pride ourselves on our world-class expertise and personal approach to financial services. If you’d like to work together on your business or simply have questions, contact us today!
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