CBM Blog

May Barnhard Investments (MBI), the wealth management subsidiary of Councilor, Buchanan & Mitchell, welcomes Gregory M. Estes, the firm’s new senior portfolio and relationship manager. Estes brings nearly 30 years of building successful client relationships, managing portfolios, developing client investment strategies, equity research and leading compliance-based risk management strategies. He is responsible for overseeing the wealth management goals of MBI’s high net worth clients. Visit the May Barnhard Investments website for the full announcement. Councilor, Buchanan & Mitchell (CBM) is… Read more ›

In a surprising move, the IRS announced the SECURE 2.0 rule, that catch-up contributions for high earners must go into Roth accounts, will be delayed until 2026. Originally to start in 2024, the delay provides a window for employers’ retirement plans to comply with the law and employees to reap the tax benefits of current catch-up contributions. The rule requires employees aged 50 or above, who earned $145,000 or more the previous year, to make their employer-sponsored catch-up contributions in… Read more ›

In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERTC), the IRS has imposed an immediate moratorium through at least the end of 2023 on processing new claims for the credit. The reason the IRS cites for the move is the risk of honest small business owners being scammed by unscrupulous promoters who submit questionable claims on their behalf. The Fraud Problem The ERTC is a refundable tax credit intended for businesses that 1) continued paying… Read more ›

Estate planning involves a lot of moving parts. So you’d be forgiven for overlooking or forgetting about certain issues when making decisions about transferring wealth in the most tax-effective manner after you die. An experienced estate planner can help ensure you dot all the “i’s” and cross all the “t’s.” But if you’ve done some of your own estate planning or worked with different advisors over the years, a few things may have fallen through the cracks. Here are four… Read more ›

Councilor, Buchanan & Mitchell (CBM) was recognized by Bethesda Magazine as a top workplace with some of the happiest employees in the Bethesda area. This marks the second consecutive year CBM was recognized for its workplace environment. In 2022, Bethesda Magazine also named CBM one of the best places in the area to work. “We are proud of the environment we continue to invest in creating for team members,” said Daniel L. Weaver, CPA, president of CBM. “From a competitive… Read more ›