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January Stock Surge Signals Strong 2025: Economic Growth, Earnings, and Risks Ahead
Stocks Jump in January on Solid Economic Data & Earnings, A Good Sign For 2025
“Tax Season Alert: Uncle Sam is Watching”
This week’s insight is a reminder that Uncle Sam watches you.The IRS began accepting 2024 tax returns last Monday. The good news is that Direct File, a free tax-return program sponsored by the IRS, is available in Florida (but not Alabama). It allows eligible taxpayers to prepare and file their federal returns online directly with the IRS. To qualify, those married filing jointly must have a combined income of $250,000 or less and have generally simple tax situations. There is a free customer support line if you go that route.
Creating a Business Continuity Plan: A Crucial Step in Small Business Financial Planning
Risk management is key to your company’s long-run viabilityA Business Continuity Plan (BCP) prepares for all sorts of risks with a focus on protecting a business’s valueJust like with a personal financial plan, a BCP eyes long-term success and risk management strategies to put in place todayWe talk a lot about the long game in our blog. Indeed, small businesses need to plan for the years and decades ahead when it comes to areas like taxes, exits, and your retirement.
January Tax Tips: Setting Your Small Business Up for Success in 2025
This week’s insight rings in the new year with a glass full of tax talk. We’ll try not to party too hard.Small business owners aren’t so much concerned about post-New Year’s hangovers as they are with the headaches that come with taxes in January. It seems like every year there is some new requirement that demands your time and energy. Fear not. Let’s outline how to avoid tax follies in 2025.
Navigating Employee Stock Ownership Plans (ESOPs): A Guide for Small Business Owners
An ESOP is a retirement plan that puts ownership in the hands of workers, offering tax advantages and a succession opportunity for the ownerWhile the initial costs are high and plan maintenance is required, established small businesses may find ESOPs to be ideal for promoting long-term growthCompanies with 30-100 workers may be best suited for an ESOPRewarding and motivating employees with a stake in your company can be an effective strategy.
Chasing Efficiency: Can the DOGE Bros Fix America’s Fiscal Woes?
This week’s insight is all about the DOGE Bros.The average US federal budget deficit (as a percent of GDP) has grown under the first term of each president so far this century. Recessions can obviously drive increased spending to stimulate the economy and wars are expensive, but during tranquil financial and geopolitics periods, the federal government should be able to at least break even. That hasn’t been the case recently, and it’s hard to see it changing any time soon.
Joy to the Investment World: Stocks Hit New Highs Ahead of Christmas
The S&P 500 and Nasdaq closed at record levels last weekInterest rates have dipped as Trump’s cabinet takes shapeHuge retail sales numbers and strong corporate earnings are positives with the Fed poised to issue one more rate cut in 2024Markets consolidated post-election gains through the middle of November, but have since come rip-roaring back. Last week, following a decent November jobs report, both the S&P 500 and Nasdaq Composite closed at fresh peaks.
Bitcoin’s Meteoric Rise
This week’s insight zooms in on one of 2024’s most popular investments: bitcoin.The world’s largest crypto asset has been in the news for years on end, but its fanfare reached new heights following the reelection of Donald Trump. The soon-to-be 47th POTUS has been outspoken in favor of a so-called bitcoin reserve, though the details of how that might look are not yet known.
Insurance Strategies for Small Business Owners: Protecting a Company’s Future
Learn about the right mix of insurance policies for your business, including safeguarding against emerging risksSufficient insurance can be a cornerstone of growth, instilling confidence across stakeholder groupsFind out how to save money when shopping around for plans and why a risk management strategy is critical in today’s economyDo you know about that thing called the “success” tax? No, it’s not some new law struck on Capitol Hill or a would-be estate planning nightmare.
Your 2024 Tax Checklist: 8 Moves Small Business Owners Can Make Before Year-End
Proactive tax planning is essential for small business owners looking to reduce their long-term tax obligations Big changes could be on the way at the end of 2025, so getting ready today is prudent From maximizing retirement contributions to adjusting your business structure, many strategies are available to manage your tax situation Don’t wait until the last minute to do your Christmas shopping.
Don’t Leave Your Legacy to Chance: Essential Estate Planning
This week’s insight is a little morbid, but it is that spooky time of year after all…I came across a recent Wall Street Journal article detailing how many people without children leave unexpected inheritances to charities, distant relatives, friends, or even pets. It’s a growing issue since more adults, particularly millennials and Gen Z, either delay family formation due to the rising cost of living, or just see kids as a burden on the YOLO lifestyle.
After Hurricane Helene: 5 Essential Steps for Small Businesses to Prepare for Natural Disasters
This week’s insight urges all of us to count our blessings and prepare for the next potential natural disaster.Last week, Hurricane Helene gave us in the Florida panhandle a scare. Destin was spared the brunt of the category 4 monster, but our friends to the east were not so lucky. Devastation was the worst in upstate North Carolina and the surrounding areas. It will take months, if not longer, for Ashville to recover from deadly flash floods, and we continue to pray for those affected.
Securing Your Legacy: Essential Planning for Small Business Owners
Legacy planning is crucial to a company’s long-term success and your financial futureDocumenting your values, a business succession strategy, and regular check-ups helps mitigate risksA well-crafted legacy plan weaves together your business life and personal financial goals Small business owners I work with are often nose-to-the-grindstone and focused on daily operations. Long-term growth is the name of the game. What’s sometimes overlooked, however, is the end strategy.
Reflections on the Great Financial Crisis: 16 Years Later, Lessons Still Relevant Today
This week’s insight reflects on the events of September 2008 and what we can still learn about the Great Financial Crisis (GFC) today.It was 16 years ago this week when investors went from navigating through a garden-variety market decline to fearing the worst. On September 15, 2008, Lehman Brothers, the famed Wall Street investment bank, filed for Chapter 11 bankruptcy. It sent shockwaves through the global financial system, leading to extreme daily stock market declines and a furthering of the bear market that began in October of 2007.