Category: Retirement Planning

On May 23, the House of Representatives passed the Setting Every Community Up For Retirement Enhancement (SECURE) Act, a bill endorsed by both Republicans and Democrats designed to improve the retirement system of our nation. Approximately one out of five working Americans has no savings for retirement. According to a survey conducted by Bankrate.com, not saving enough for retirement is Americans’ top financial regret. The proposed bill would bring significant changes to retirement plans. The bill includes 29 provisions, many… Read more ›

Acquisition Expands CBM Financial Planning and Investment Management Services Councilor, Buchanan & Mitchell (CBM) has acquired May Barnhard Investments, LLC (MBI) effective November 1, 2018. MBI, a fee-only financial management firm, provides comprehensive financial planning and investment management services to help clients pursue their life goals with confidence. MBI was founded in 2013 by Debora May, CPA, CFP®, CDFA®, Judith Barnhard, CPA, CFP®, CDFA®, Jeff May, CPA and Alex Seleznev, MBA, CFP®, CFA. Ms. May, Ms. Barnhard and Mr. May… Read more ›

Click here to learn more about our tax, accounting and advisory services for attorneys and law firms. When it comes to setting up a tax-favored retirement plan — such as a 401(k) plan, a pension or profit sharing plan, or a simplified employee pension (SEP) plan — law firm partnerships must follow essentially the same federal income tax rules as other employers. A partnership retirement plan can potentially cover both partners of the practice and eligible firm employees. However, partnership plans… Read more ›