Time to Read: 8 Minutes Gathering your tax documents needed to file your returns is a chore, but we’ve tried to simplify it by presenting a series of questions. These questions are intended to help you gather all your key tax information, expedite the filing process, and make sure your taxes are reported correctly.
Time to Read: 8 Minutes One of the most fulfilling roles as an advisor at BWM Financial is helping our clients use their money as a tool to do the things in life they enjoy most. For many of our clients, that means developing creative, tax-efficient strategies for making life changing gifts to their loved
Time to Read: 7 Minutes Many high earners want to know the most tax-efficient strategies for gifting assets to the people they care about. With concerns over lower estate tax exemptions in the future, BWM Financial is helping clients pass their wealth to loved ones in a tax-efficient way during their lifetimes. We explain the fundamental gifting rules, benefits,
Tax Saving Strategies for Higher Earners (Working or Retired): Part III – Qualified Charitable Distributions
Time to Read: 6 Minutes Charitable giving may already be a part of your annual tax and estate planning. But if you are over age 70 ½ and have an IRA, you can donate directly from the IRA, satisfy your Required Minimum Distribution, and reduce your taxable income. It’s called a Qualified Charitable Distribution (QCD), and
Time to Read: 9 Minutes Many charitable individuals want to know the most tax-efficient strategies for donating to their favorite causes. In Part 2 of a 7-part series, “Tax-Saving Strategies for High Earners,” we evaluate the unique tax benefits of a Donor-Advised Fund (DAF), a charitable giving account designed to help taxpayers receive large
Time to Read: 7 Minutes Many high earners want to know which strategies they can implement to reduce their taxes. In Part I of a 7-part series, “Tax Saving Strategies for High Earners,” we explore the basics and benefits of a tax-reduction strategy called “stacking.” This involves grouping itemized deductions for charitable giving, state/local