Posts from: Tax News
Happy Holidays! Year-End Tax Saving Tips to Spend or Save for the Holidays
It looks like the end of the year is coming, and we are pretty sure many of you are still frantically shopping for gifts for your family and friends. Do you ever wish you had more money to spend for your friends and family, but just could not figure... (more...)
A Smart Business Decision Maker = A Successful Entrepreneur
Many successful business leaders all share a common skill that most people do not posses. Although this skill comes in all forms and is dependent on the amount of opportunities given to them, they all still have to undergo a process whether it takes... (more...)
How to Deal with Stress of Running a Business
Are you a business owner who has been through a lot of stress these past couple months? Especially, when tax season is coming and you have no one to prepare your tax forms for you? Well, let us take a moment to tell you that, if you are reading this... (more...)
This Skill is What Determines the Success of Your Business
Just recently, there was an article written by Matt Fore who talked about an important skill that would subsequently determine the success of your business. In his article, he provided an example from his experience about one of his business friends... (more...)
How Hard is it to Invest in Real Estate?
There was an interesting article written by Scott Trench who recently wrote an article about how easy it is to invest in Real Estate. In the beginning he talks about how some of the most successful entrepreneurs started off with nothing. That’s a very... (more...)
The Lesson from Rich Dad, Poor Dad
“Many people work very hard, but they never seem to earn enough. In Rich Dad, Poor Dad, Robert Kiyosaki explains how to escape this “rat race” and achieve financial independence.” When you are trying to aim for financial independence,... (more...)
9 Things Every Business Owner Should Know
Always Remember. Cash is king : Cash crunches happen from time to time, but if they are chronic at your company, then you may have to re-think the way you do business. Though cash-flow squeezes often seem satisfying, there are only a few explanations.... (more...)
8 Things Entrepreneurs Do Differently
Entrepreneurship goes beyond Elon Musk and Mark Zuckerberg. It is mostly an approach to life that favors creativity over conformity and action over inaction. Author and investor, James Altucher says that “Being an entrepreneur doesn’t mean starting... (more...)
2016 Post-Election Tax Update
Any change in Presidential Administration brings the possibility, indeed the likelihood, of tax law changes and the election of Donald Trump as the 45th President of the United States is no exception. During the campaign, President-elect Trump outlined... (more...)
10 Steps to Survive a Business Disaster
In business, it sometimes pays to take a risk. But in the face of natural disasters, like floods and fires, or criminal activity like cyber hacking, your Recovery Procedure Plan needs to be as safe as houses. After all, everything is on the line. The... (more...)
Small Business Success Story – Chad Mureta (App Empire)
Chad Mureta ran a real estate business when the impossible happened: A devastating car accident has caused to be delivered to the hospital, nearly taking out his arm. His business could not continue without him being physically present, but Mureta’s... (more...)
How to Know What Passions to Pursue in Business
We all have that question where we ask ourselves: “I have a passion for a lot of things. How do I know which one I should really choose? Well, we all have heard many times in our lives, if you want to make a living, do something that you love to do.... (more...)
7 Businesses That You Can Start With Less Than $100
There are always many obstacles to starting your own business, but money is not always one of them. Many people have dreamed of owning a business, however, the biggest problem that many people face is that the amount of capital it takes to start it up... (more...)
You Can Save $20,000 on IRA Rollover Even You Miss The Deadline!
A new IRS rule could save you $20,000 or more if you miss the 60-day deadline for an IRA rollover. A 60-day rollover allows an individual to move money from one retirement account to another. Missing this 60-day deadline could lead to a massive tax bill.... (more...)
Tips on How Small Businesses Can Become a Firm of the Future
How can a business become a firm of the future? Well let’s take a step back, what does it mean to become a firm of the future? Let’s look at this example, a firm of the future has been “in business for decades, achieving success... (more...)
How to Start a Business as a Couple, Aww! <3
We all know that the benefits of starting a business with a loved one seem obvious: You’re working with someone that you trust, and whom you already you enjoy spending time with. There are plenty of high profile success stories- Cisco, Slideshare,... (more...)
IRS Scam Update: U.S charges 61 over India-based Impersonation Scam
In one of our earlier posts, we posted up a blog about how we can identify a fraudulent scam from a fake IRS representative. Just recently, The US Justice Department charged 61 people and entities on Thursday on October 27, 2016 with taking part in a... (more...)
From World Ranked Swimmer to Successful Entrepreneur
We would like to share this story with you because this man shares similar values as we do as our company, and we want to show you how integrity takes each of us a long way in the business world. Joseph M. Grant, a world class swimmer in his youth... (more...)
Guess What?! You Can Lower Your Tax Bills with These 10 Tips!
Since Tax Season is coming closer and closer, many of us are looking for ways to make their final moves in order to save money on their returns. Well don’t worry! Sonny CPA is here to save the day! Here’s something you should know… You can... (more...)
Take A Break From Your Work! Free Time Is Important!
There was an interesting article written by Bill Sheridan from MACPA.org who talked about how business people or anyone who works should take a break. Wanna know what he did recently? He did absolutely “nothing.” During the time when he did “nothing”... (more...)
Only 10 Companies Control Almost Everything We Eat!
Did you know that most of the products in the groceries we buy are actually sold by just 10 companies? Most people would think that the products we buy from grocery stores are from various different companies. In reality, these 10 companies, which... (more...)
Hurricane Matthew Victims Suffered Enough. IRS Gives Some Help with Tax Relief
Hurricane Matthew has devastated families and businesses in North Carolina as well as South Carolina, Georgia, and Florida. For those affected, life becomes more difficult as their homes, businesses, and possessions were damaged or lost. Unfortunately,... (more...)
Don’t Fall for These Scams! IRS – List of Tax Scams for The 2016 Filing Season
Many people all over the world have fallen into the trap of a scam or a fraud from a criminal. Every day, our society becomes more intelligent while technology in our world advances. But, we aren’t the only ones who are getting smarter; criminals are... (more...)
Solar Panels Do More than Just Save Money?!
What is the first thing that comes to mind when someone asks why you would buy solar panels? Most likely, save money. We asked some of our co-workers what the first thing that came to mind when they heard that phrase, and they said the same thing. Whether... (more...)
Wait! Before You Gift Someone Something, Know That Gift Taxes Exist!
Did you know that gift taxes exist? Let’s imagine that you own a brand new Nissan GTR, and you plan to pass that vehicle down to your family like your son. After going to the DMV to file a transfer and sending the vehicle registration, the IRS will... (more...)
How Wells Fargo Affected Investors Like Warren Buffett
Wells Fargo has recently reached a $185 million settlement agreement with the bank. As we have said before in the last blog post about Wells Fargo, they have scammed thousands of their customers by opening unauthorized bank accounts and credit... (more...)
Small Business Benefits – Cloud-Based Accounting Tools
What will you do when you have too many projects and business events to attend for your business while you have a ton of bookkeeping and accounting issues that you have to work on? In today’s world, there are many advantages that a small business... (more...)
How Do Famous Youtube Stars Become Rich?
Do any of you guys know or heard of Pewdiepie? Or Psy, the guy who was famous for his famous youtube video, Gangnam Style? Although it seems that no one is talking about Psy these days, have you ever wondered how these youtube stars make their money? Yeah,... (more...)
Rick Alden, The Willy Wonka of Skullcandy
We can safely assume that most of us know what Skullcandy is right? Well, if you do skip this paragraph. If you don’t, well where have you been for the last 8 years? Well anyway, Skullcandy are a pair of headphones that has a skull as its logo.... (more...)
Unethical Business Practices Will Not Help You Reach Success
Have you ever been involved in a situation where you were working with someone who got money from people who believed that they were getting something back in return but didn’t? Let’s say: You have a friend who owns a lemonade stand. The... (more...)