Category: Financial Planning

In an era of uncertainty, you can count on one thing: Time marches on. While you can’t beat Father Time, you can prepare for these age-related tax and financial planning milestones as you and your loved ones grow older. Age 0-23: Beware of the Kiddie Tax The so-called “kiddie tax” rules can potentially apply to your child’s (or grandchild’s) investment income until the year he or she reaches age 24. Specifically, a child’s or young adult’s investment income in excess… Read more ›

January 29, 2020 (Bethesda, MD & Washington, DC) – Debora May, CPA, CFP®, CDFA® and Wendy Moyers, CFP®, CDFA®, respectively Executive Vice President and Senior Financial Advisor at Councilor, Buchanan & Mitchell, P.C., have been recognized by Washingtonian Magazine as top financial advisors in the Washington, DC metropolitan region. This is the eighth such recognition for Ms. May and the first for Ms. Moyers. Winners are selected through a peer review process managed and administered by Washingtonian Magazine. Debora May, CPA,… Read more ›

December 20, 2019 (Bethesda, MD & Washington, DC) – May Barnhard Investments, the fee-only financial advisory affiliate of Councilor, Buchanan & Mitchell, P.C., has launched its new website, providing details about the expertise of MBI’s nine financial and investment management professionals, and an overview of the firm’s relationships with individual and institutional clients. The new May Barnhard Investments website can be accessed at www.maybarnhardinvestments.com. “When we welcomed MBI in late 2018, we wanted to enhance its visibility so clients understood… Read more ›

Acquisition Expands CBM Financial Planning and Investment Management Services CBM – Councilor, Buchanan & Mitchell, P.C. (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… Read more ›

September 6, 2018 (Bethesda, MD & Washington, DC) – Jenny Wang, CFA®, CFP®, senior investment analyst at CBM – Councilor, Buchanan & Mitchell, P.C. has earned her certified financial planner (CFP®) designation from the CFP Board, the organization recognized for fostering professional standards for personal financial planning. She joins Debora E. May, Judith P. Barnhard, Jane Ochsman Rowny, Wendy M. Moyers and Aleksandr S. Seleznev as CBM’s sixth certified financial planner, deepening the firm’s expertise in this area. In her… Read more ›

Debora May, CPA, CFP®, CDFA®, Executive Vice President at CBM, was recognized by Washingtonian Magazine as a 2018 Top Financial Advisor. This award, whose winners are selected by peers throughout the Washington metropolitan region and compiled by the magazine, is the seventh such recognition for Ms. May who has been listed by the Washingtonian for financial advisory expertise multiple times in the past. Ms. May has more than 30 years of experience in public accounting with significant experience in tax,… Read more ›

If you own life insurance policies at your death, the proceeds will be included in your taxable estate. Ownership is usually determined by several factors, including who has the right to name the beneficiaries of the proceeds. The way around this problem is to not own the policies when you die. However, don’t automatically rule out your ownership either. And it’s important to keep in mind the current uncertain future of the estate tax. If the estate tax is repealed… Read more ›

Top: John Comunale, Jeff May, Judy Barnhard, Dan Weaver, Holly Caporale, Keith Laudenberger Seated: Peter Reilly, Patricia Drolet, Debbie May, Richard Morris May & Barnhard, P.C., a tax and financial consulting firm based in Bethesda, MD, has become Councilor, Buchanan & Mitchell, P.C. (CBM) effective November 1. CBM, an accounting and advisory firm with offices in Bethesda, MD and Washington, DC, now has 82 client service and operations professionals. For 96 years, CBM has delivered high-quality financial management solutions to… Read more ›

Councilor, Buchanan & Mitchell, P.C. (CBM), a full-service accounting and advisory firm based in Bethesda, MD, will merge in the tax and financial consulting expertise of May & Barnhard, P.C., effective November 1. The expansion will create a team of 82 team members including 10 partners. “I am pleased to welcome the professionals of May & Barnhard to CBM as we continue to enhance our breadth of services,” said Peter B. Reilly, CPA, CVA, President and Managing Partner of CBM…. Read more ›

If your estate plan calls for making noncash gifts in trust or outright to beneficiaries, you need to know the value of those gifts and disclose them to the IRS on a gift tax return. For substantial gifts of noncash assets other than marketable securities, it’s a good idea to have a qualified appraiser value the gifts at the time of the transfer. Adequately disclosing a gift A three-year statute of limitations applies during which the IRS can challenge the… Read more ›