Maximizing Business Ownership Tax Advantages: A Multi-Year Strategy for Growth and Savings

By |2023-02-24T11:48:39-08:00February 24th, 2023|Wealth Management Resources|

Time to Read: 5 Minutes Growing your business across every measure is the priority for business owners, no matter their stage. Just starting out and working to be revenue-positive or coping with early income In the mid-stage and building your strategy and tactics for long-term growth Late-stage revenue maximization for exit planning Every stage

Are you a High-Earner or Business Owner? A Defined Benefit Plan Could be Right for you.

By |2023-01-10T13:59:24-08:00January 12th, 2023|Wealth Management Resources|

Time to Read: 7 Minutes So what even is a defined benefit plan? The defined benefit plan is a lesser-known retirement savings strategy that many business owners can implement in their business, in addition to the 401(k) plan, which is a type of defined contribution plan.  Defined benefit plans are more complex than a

How to Reduce Taxes on Required Minimum Distributions – Part 6 of Tax Saving Strategies for High Earners

By |2022-09-01T08:13:08-08:00September 23rd, 2022|Wealth Management Resources|

Time to Read: 7 Minutes Many high earners want to know what strategies they can implement to help reduce the tax burden caused from large, unwanted required minimum distributions (RMDs) in retirement. In Part 6 of a 7-part series, “Tax Saving Strategies for High Earners,” we break down what you need to know about

Getting the Most from your Executive Benefits Package

By |2022-06-01T11:49:30-08:00June 1st, 2022|Wealth Management Resources|

Time to Read: 16 Minutes At BWM Financial, we’ve helped executives, engineers, and scientists at San Diego companies with their financial affairs for over 20 years. This often involves navigating the complexities of employee benefits, such as company stock, options, retirement plans, and insurance benefits.  Many executives are simply so focused on their career that they lack the bandwidth to spend their time and energy: Deciding between selling vested

The Backdoor Roth IRA: A Strategy for Tax-Advantaged Savings for High Earners

By |2021-11-02T11:41:44-08:00October 5th, 2021|Wealth Management Resources|

Time to Read: 13 Minutes The backdoor Roth gives high earners access to a tax-free Roth IRA.  It can protect from rising taxes, give flexibility in retirement, and provide more for loved ones.  However, a backdoor Roth IRA isn’t right for everyone, and done incorrectly it can run up a hefty tax bill.  At BWM Financial, we guide clients through every step from understanding their options to ensuring a smooth experience.   Before we

Getting the Most from your Qualcomm Benefits Package

By |2022-08-05T14:27:27-08:00September 30th, 2021|Wealth Management Resources|

Time to Read: 16 Minutes At BWM Financial, we’ve helped executives, engineers, and scientists at San Diego companies with their financial affairs for over 20 years. This often involves navigating the complexities of employee benefits, such as company stock, options, retirement plans, and insurance benefits.  In over two decades, we’ve amassed comprehensive knowledge on the benefits at companies like Qualcomm. Many executives are simply so focused on their career

Mega Backdoor Roth 401(k) – Retirement Savings Strategies for High Earners

By |2022-09-01T08:21:48-08:00September 2nd, 2021|Wealth Management Resources|

Time to Read: 7 Minutes Maximizing retirement savings and devising strategies to keep taxes low are the cornerstones of building wealth. But with relatively low limits on 401(k) savings, how should high earners invest excess cash? There’s an extremely productive strategy that can turn your 401(k) into a vehicle for saving above the income limits and creating tax-free distributions

Four Things to Know About Your 401(k)

By |2021-10-13T11:56:08-08:00August 26th, 2021|Wealth Management Resources|

Time to Read: 3 Minutes Consistently saving into a 401(k) plan during your working years is the foundation of a successful retirement plan. The process is usually quite simple, and an additional benefit can be a 401(k) match offered by an employer, which essentially amounts to free money, once you’ve met the threshold to qualify.   There are some

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