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Category: Article

Maximize Your Tax Strategy

Woman checking her tax strategy, monthly expenses and statements at homeA strong tax strategy drives growth. Learn how Sorren helps simplify taxes, uncover savings, and plan with confidence.

Planning Strategies for Peace of Mind

Happy mature couple meeting investments and financial advisor at home. They are happy and smiling sitting in the living room discussing estate, trust, and gift planning.A thoughtful estate plan is more than financial—it’s personal. Sorren simplifies estate, trust, and gift planning to protect your legacy and bring peace of mind.

2025 Nonprofit Benchmarking Survey

Three volunteers in blue shirts sorting donations in a room. One checks items on a tablet for the 2025 Nonprofit Benchmarking Survey.The 2025 Nonprofit Benchmarking Survey uncovers insights from 250 leaders on growth, impact, and the trends shaping the sector’s future.

Defining Sorren’s Mission, Vision, and Values

Mission, Vision, and Values graphic with text on a light blue background and two people collaborating with sheets of paper on a couchDiscover how Sorren’s new mission, vision, and values are shaping our future. Built on trusted relationships and united by a shared purpose, we’re embracing fresh opportunities to serve our clients, support our people, and strengthen our communities.

409A Valuations and Stock Options

A person works on a laptop displaying a trading dashboard with charts and financial data. The setup is on a white desk with a green plant and a pencil holder containing colored pencils in the background.Learn how a 409A valuation ensures IRS compliance, protects stock options, and supports funding goals. Discover its benefits for startups and growing companies.

Thinking About an Audit? Here’s What You Need to Know First

A close-up of a person working on a laptop, using a mouse with one hand while typing with the other. Financial documents with charts and graphs are spread across the desk, along with a calculator, suggesting tasks related to accounting, data analysis, or financial reporting in a professional setting.Audits—the word alone creates an uneasy feeling for many business owners, but it doesn’t have to! In fact, an audit can be an incredibly valuable tool for your business, helping you gain insight into your company’s financial health, build trust with shareholders and enable access to various sources of capital.

IRS Audit Alert: Are You Making These Common Mistakes?

A man in a light blue dress shirt is leaning against a white wall in a brightly lit hallway. He appears deep in thought or stressed, with his head slightly bowed and his eyes closed, holding his glasses in one hand near his forehead.The Internal Revenue Service (IRS) conducts audits to ensure both individuals and businesses are complying with tax laws and accurately reporting their income and deductions. Although audits are relatively rare, certain income brackets and specific actions can draw the attention of the IRS.

FAQs For Plan Sponsors and Employees on Cares Act Relief

A magnifying glass hovers over the printed words "Frequently asked Questions" on a white sheet of paper, emphasizing the text. The image symbolizes searching for or highlighting important information, commonly associated with FAQ sections or informational resources.The CARES Act was a swift federal response to help businesses and employees manage pandemic-related economic challenges. Many aspects of the wide-range law make significant changes affecting employer-sponsored retirement plans and their participants.

SBA Issues Guidance on How to Apply for More PPP FundsLegacy Firm Article

A person is working on a tablet with a detachable keyboard, using a stylus while typing. The workspace includes a black desk, a white coffee cup, and a vase with pink flowers, creating a clean and focused environment. The image conveys themes of remote work, digital productivity, or creative tasks.The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act or Act), signed into law on December 27, 2020, as a part of the Consolidated Appropriations Act, 2021, makes additional funds available under the Paycheck Protection Program (PPP) and expands eligibility for PPP loans.

Understanding the Tax Implications of Selling Business Property

A person in business attire hands over a car key fob to another individual across a desk, symbolizing a car sale or lease agreement. The desk holds documents, a calculator, and small toy cars, suggesting a formal automotive transaction in a dealership or financial setting. The bright office environment adds a professional tone.Selling business property can be a major milestone—whether it’s part of a business exit strategy, asset reallocation, or simply a change in operations. But while the transaction may appear straightforward, the tax consequences are often anything but.

What Your Nonprofit Should Know About Credit Loss Reporting Rules

A smiling volunteer wearing a white T-shirt with the word "VOLUNTEER" printed on it is holding a clipboard and writing with a pen. The background is softly blurred, suggesting an outdoor setting with other people in the distance. The image conveys themes of community service, organization, and engagement.The Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016-13 seems like it would be old news. But the provision for accounting for current expected credit loss (CECL) went into effect for not-for-profits in calendar years ending in 2023 and fiscal years ending in 2024.

Protecting the Unaware: Understanding IRS Innocent Spouse Relief

A woman and a girl smiling while the girl hugs the woman at a desk with a laptop.When married couples file joint tax returns, both individuals become “jointly and severally liable” for the full amount of tax due. This means that each spouse is individually responsible for the entire liability—even if one spouse earned all the income or was solely responsible for the errors or omissions that led to an audit or back taxes.

2025 Financial Outlook: Economic & Tax Symposium Overview

A speaker presenting in front of an audience at a conference, with food on tables, during the 2025 Financial Outlook & Tax Symposium recap.To kick off the new year, Harris hosted the highly anticipated Economic & Tax Symposium, a pivotal event for business professionals looking to gain key insights into the 2025 financial outlook, economic trends, and upcoming developments in tax laws.

Understanding the Tax Implications of Paycheck Protection Program (PPP) Loan Forgiveness

A person in a brown sweater and apron typing on a laptop while holding a smartphone, in need of an auditor to verify account balances and transactions.The Paycheck Protection Program (PPP) was one of the most prominent relief measures offered during the COVID-19 pandemic. Created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March 2020, the PPP offered forgivable loans to small businesses to help them maintain payroll and cover certain operational expenses during a period of historic disruption.

6 Ways Inflation Could Impact Your Taxes

A person adds a rolled-up $100 bill into a white piggy bank on a desk with coins, highlighting how inflation impacts your taxes and returns.Inflation isn’t just a headline for economists or investors—it’s something that affects nearly everyone’s wallet, from the cost of groceries to interest rates on your mortgage. However, one lesser-known ripple effect of inflation occurs quietly each year, often overlooked: its impact on your taxes.

Rooted in Legacy, Built for What’s Next: The Story Behind Sorren

A silhouetted person standing on a cliff with mountains in the background, in black and white, with Sorren logo.At Sorren, we didn’t set out to create just another accounting firm. We brought together 13 trusted, community-rooted firms from across the country, united by a shared vision for the future. The result is Sorren: a national firm built on shared values, regional strength, and an unwavering commitment to client success.

Meet Sorren

Meet Sorren graphic with light blue, navy, and coral featuring a photo of two women collaborating at a deskAfter decades of serving clients in our local communities, 13 firms from across the country made a bold decision: to come together and build something greater together. Today, that vision is a reality. Welcome to Sorren.

Why Audited Financial Statements Matter—And When Your Business Needs Them

A person typing on a laptop with a coffee mug nearby and stationery on a desk.Reliable financial reporting isn’t just a best practice—it’s a business necessity. Whether you’re a startup seeking investors, a growing business applying for a loan, or a contractor bidding on a government job, the quality and credibility of your financial statements can significantly impact your opportunities.

How Your Business Can Prepare for and Respond to an IRS Audit

A group of people in a meeting room watching a man writing on a whiteboard and preparing for audit.It’s a phrase that strikes fear into even the most seasoned business owners: “You’re being audited.” But despite the anxiety it provokes, an IRS audit doesn’t have to be a nightmare—especially if you understand what triggers them, what the IRS is really looking for, and how to prepare in advance.