As many of you know, a person’s bank accounts are only covered by the Federal Deposit Insurance Corporation up to $250,000 per person. Many people may be unaware that any cash held in a savings, money market and checking accounts… Read More
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Transferring Your Family Business
As a business owner, you’re going to have to decide when will be the right time to step out of the family business and how you’ll do it. There are many estate planning tools you can use to transfer your… Read More
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BWFA Focus: Tax Services
Art Buchwald, the famous American humorist and syndicated newspaper columnist, once said—“Tax reform is taking taxes off things that have been taxed in the past and putting taxes on things that haven’t been taxed before.” Since Benjamin Franklin long ago… Read More
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Pay Down Debt or Save for Retirement?
You can use a variety of strategies to pay off debt, many of which can cut not only the amount of time it will take to pay off the debt but also the total interest paid. However, like many people,… Read More
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Monte Carlo Analysis
When you sit down with a BWFA financial professional to update your retirement plan, you may encounter a Monte Carlo simulation, a financial forecasting method that has become more prevalent in the last few years. Monte Carlo financial simulations project… Read More
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Health Insurance In Retirement
At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before. Staying healthy is your goal, and this can mean more visits to the doctor for preventive tests and… Read More
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Our Summer Interns
This summer BWFA was fortunate to have seven talented student interns work with our team. Each brought their individual skills to the table and, hopefully, each gained some meaningful exposure and experience from their time with us. The team of… Read More
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BWFA Client Advisory Board
Today, the CAB consists of approximately 30 members, typically serving 2-4 year terms. The board meets twice a year, usually at a local restaurant, for luncheon presentation and follow up discussion. Among the current members are professionals, retirees, small business… Read More
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Retirement Plans for Small Businesses
As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you’re allowed a deduction for contributions you make to an employer- sponsored retirement plan. In return, however, you’re required to include certain employees in the… Read More
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Gift & Estate Taxes
If you give away money or property during your life, those transfers may be subject to federal gift and estate tax and perhaps state gift tax. The money and property you own when you die (i.e., your estate) may also be… Read More