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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 …

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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 …

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A couple going over finances and retirement

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 …

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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. …

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The Importance of Personal and Business Financial Planning

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 …

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