Businesses require periodic evaluation to remain on track to achieve their big-picture goals. The new year is an ideal time to reanalyze, reassess, and reprioritize moving forward. A SWOT (strengths, weaknesses, opportunities, and threats) analysis provides a tried-and-true framework for evaluating both internal and external factors that affect a company’s competitiveness. The results of a SWOT analysis can be used to evaluate where a business stands in the marketplace and guide strategic decision-making.

Annuities are popular investment vehicles, especially among retirees and the elderly. For this reason, survivors commonly encounter annuities when dealing with the estate of a deceased loved one. Although annuities can be straightforward, the bevy of options and investment choices commonly make annuities a complex area to understand even for the most financially astute investors.

No technology in recent memory has generated more hype, both positive and negative, than ChatGPT. ChatGPT is probably the most well-known of many generative artificial intelligence (AI) applications that are currently available. There are many tasks that it can help to automate, optimize, and make more efficient. But it also has limitations and risks.

Over time, your business can undergo significant changes. What may have started as a humble, one-person operation can grow into a more complex company, with multiple owners, employees, an evolving mission statement, and increasing risks. As the scope and goals of your business shift, an accompanying change in business structure might be warranted.

If you are a small business owner, or about to become one, it’s all but certain you will have a new federal reporting requirement when the Corporate Transparency Act (CTA) takes effect on January 1, 2024.

Estate planning isn’t limited to the highly wealthy or those nearing retirement. It’s for everyone. Estate planning allows you to designate guardians for minor children, pick agents to help make your healthcare and financial decisions if you become incapacitated, minimize taxes to maximize your family’s inheritance, and direct the distribution of your estate upon your passing.

Most people understand that having a comprehensive estate plan is a good idea, but many don’t take the step because they are unsure of the differences between a will and trust and where to start. If you’re uncertain about the distinctions, you’re not alone.

Simply put, estate planning is the process of making decisions about what happens to you, your money, and your property when you pass away or while you are still living but can no longer make decisions for yourself. Here’s three reasons why estate planning is important: