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More Americans Are Tapping 401(k)s for emergencies. Here’s When a Hardship Withdrawal Is and Isn’t a Smart Move

More Americans are turning to a 401(k) hardship withdrawal to cover urgent and unexpected expenses. By the end of 2024, about 5% of employees had taken a hardship withdrawal from their 401(k) accounts. That’s more than double the 2% who did so in 2018. With inflation,...

How the Government Shutdown Affected Small Businesses

When the federal government shuts down, businesses across the nation feel the effects, especially for those that rely on federal programs, work directly with federal agencies, or operate near government properties. This article explains how government shutdowns affect...

How to Grow Your Money When Savings and CD Rates Drop After Rate Cuts

When the Federal Reserve cuts interest rates, it’s good news for borrowers and consumers, but not so much for savers. The Fed’s recent quarter-point rate cut is a reminder that the annual percentage yields (APYs) on savings accounts and certificates of deposit (CDs)...

Trump’s Pfizer Deal Signals Relief for Drugmakers Facing Tariff Threats

A recent deal between the Trump administration and Pfizer is signaling hope to the pharmaceutical industry. Under Trump's Pfizer deal, Pfizer gets an exemption from pharmaceutical-specific tariffs if the company invests in domestic manufacturing. This key deal is...

Tax Changes Under the One Big Beautiful Bill: Nontaxable Income, Gift Limits, and Overtime Deductions

President Trump’s One Big Beautiful Bill (OBBB) introduced several tax changes designed to boost take-home pay and simplify the tax code. Some major adjustments include nontaxable income, gift limits, estate tax exemption, and overtime deductions. Here’s a look at...

Smart Business Strategies to Prepare for Economic Downturns

Economies always run in cycles, which means that, at some point, inevitably, there will be a downturn. And the best time to prepare for an economic downturn is before things start to take a tumble. In this article, we’ll go over strategies you can use to keep your...

Succession Planning for Professional Services Practices: Preparing to Sell, Merge, or Pass the Firm to the Next Generation

What happens when it’s time to step back from running your professional services firm? Is there a clear path for the future of your business? In this article, we’ll go over how to create a solid succession plan, whether you’re looking to sell, merge, or pass the firm...

How to Maximize the $40,000 SALT Deduction in 2025 Under Trump’s New Tax Law

The One Big Beautiful Bill (OBBB) signed by President Trump includes a federal cap on the state and local tax (SALT). Until 2024, SALT was capped at $10,000 under the 2017 Tax Cuts and Jobs Act (TCJA), but the OBBB increased it to $40,000. The cap will rise by 1% each...

How Tariffs, Economic Uncertainty, and the One Big Beautiful Bill Are Impacting Small Business Earnings

Small businesses are finally seeing signs of life after a rocky few years. Since January, average earnings have climbed by 75%. That’s an encouraging statistic, yet monthly revenues still lag behind the record highs of the past two years. This signals that progress is...

Americans Spend Hours Thinking About Money: Financial Stress, Its Impact, and Practical Solutions to Ease Worries

Recent surveys reveal that Americans spend hours each week thinking about their finances. Rising prices, mounting debt, and uncertainty about the future all contribute to financial stress. Add in steep housing costs, concerns over tariffs raising the price of goods,...

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