Tax Loss Harvesting: Making Tax Lemonade from Bear-Market Lemons

By |2020-09-09T09:32:37-08:00September 15th, 2020|Wealth Management Resources|

Time to Read: 6 Minutes Tax-loss harvesting is an investment strategy used by savvy investors during market declines. A “bank” of capital losses creates a tax asset in non-retirement accounts. That asset can be used to defer, reduce, or (in some cases) eliminate taxation. At Brown Wealth Management (BWM), we take care of harvesting

Estate Planning Basics

By |2020-09-09T09:31:19-08:00September 9th, 2020|Wealth Management Resources|

Patrick recently sat down with local San Diego attorney Teddy McNamara to discuss some common questions we hear from clients about their estate plans.  Tune in as they discuss some estate planning basics including: What are the basics of an estate plan? What documents are involved in an estate plan? Do I need an

Roth Conversion: A Better Way to IRA

By |2020-08-31T13:29:33-08:00September 2nd, 2020|Wealth Management Resources|

Time to Read:7 Minutes Roth IRAs are known for their tax-free growth and withdrawals; however, high earners and retirees regularly overlook these dream savings accounts because they have income limits that, on the surface, prevent them from participating. At Brown Wealth Management (BWM), we think that Roth conversions are an effective, alternative way to

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

By |2020-08-04T08:08:57-08:00August 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

Mortgage Refinancing: How the Market Downturn Has Provided an Interesting Opportunity

By |2020-08-04T08:10:22-08:00May 8th, 2020|Wealth Management Resources|

Time to Read: 8 Minutes As coronavirus concerns continue, millions of homeowners have been receiving surprisingly good news as mortgage rates continue to hit new record lows. Last Month, the national average rate for a 30-year mortgage fell to 3.33 percent, with an average of 0.7 points paid, according to data from Freddie Mac. Mortgage rates

Health Savings Accounts: A Simple Tax Break for High Earners

By |2020-06-10T11:47:27-08:00May 5th, 2020|Wealth Management Resources|

Time to Read: 5 Minutes The number of tax-savings strategies available to affluent investors and high-income earners continues to shrink—but Health Savings Accounts (HSAs) are a noteworthy exception to this trend. Often overlooked or misunderstood, HSAs can be a great tool when used correctly. An HSA can create an easy annual income tax deduction

The CARES Act Has Waived RMD Distributions for 2020. Here’s What You Should Know

By |2020-04-27T16:16:53-08:00April 27th, 2020|Wealth Management Resources|

Time to Read: 5 Minutes The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, was signed into law on March 27, 2020. This law was created in response to the COVID-19 pandemic, which has had a tremendous impact on the financial and physical health of Americans and businesses across the country. While there

Avoiding COVID-19 Scams

By |2020-04-08T09:25:35-08:00April 8th, 2020|Wealth Management Resources|

Time to Read: 5 Minutes Scammers, fraudsters, and other criminals are taking advantage of rapidly changing data and facts associated with COVID-19, both in the workplace and in our homes. Government agencies, corporations, and news outlets continue to warn individuals to be mindful of increased fraudulent activities during these uncertain times. These scams, which can

Historic CARES Act: Key Highlights for Our Clients

By |2020-04-08T09:24:51-08:00March 31st, 2020|Wealth Management Resources|

Time to Read: 8 Minutes Last week, President Trump signed into law the historic $2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The legislation is the largest economic relief bill in US history and provides aid for Americans and businesses via direct payments, expanded unemployment insurance, loans and grants. At Brown Wealth