As a business owner, the new year isn’t just a fresh start—it’s a perfect opportunity to review key areas that can impact your success in 2025:
Meet with your insurance agent annually to assess changes in your business and identify potential risks. This is particularly crucial for cyber insurance, as costs are rising and fewer providers are offering coverage.
Federal and state tax laws are always changing. While preparing to file your 2024 tax return, consult with your tax advisor about planning and forecasting for the year ahead.
Update your succession plan to ensure each key management role is covered, including your own. Whether it’s promoting internally or hiring externally, have a plan in place for unexpected vacancies.
Schedule an annual review with your banker to explore new services, address concerns, and discuss future financing needs. Look for ways to maximize cash flow by reducing idle cash and earning more interest.
Your business may be a large part of your estate. Tax laws change constantly, so meet with your estate planner regularly to keep your plans up to date.
Have questions? Contact us to prepare your business for the year ahead!
Empowering business owners and individuals in South Jersey and Philadelphia to feel confident through proactive accounting and advisory solutions.
