Gift Tax 101: Creating Tax-Advantageous Gifting Strategies

By |2021-10-20T10:03:58-08:00October 29th, 2021|Wealth Management Resources|

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

By |2021-10-13T12:00:47-08:00August 13th, 2021|Wealth Management Resources|

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

Tax-Saving Strategies for High Earners: Part 2 – Donor-Advised Fund

By |2021-10-27T06:54:03-08:00May 18th, 2021|Wealth Management Resources|

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

Tax-Saving Strategies for High Earners: Part I – Stacking

By |2021-11-22T11:33:30-08:00August 4th, 2020|Wealth Management Resources|

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