Bowers Private Wealth Management

06/02/2026

When you work for yourself, nobody is setting up a 401(k) for you, and that’s actually a good thing.
You have more flexibility and the ability to save significantly more for retirement.
The tricky part is figuring out which plan makes sense.
There are a handful of options available for self-employed individuals and small business owners, and the differences between them can be significant.
Here’s a breakdown of the most common options.

There are a handful of options available for self-employed individuals and small business owners, and the differences between them can be significant. Here’s a breakdown of the most common options, and why one of them tends to stand above the rest for solo business owners.

06/01/2026

As a financial planning firm, we work with small-business owners to help them build value in their business, and align their personal and financial goals.

What steps can you take now to help ensure a more successful future for you and your business?

05/28/2026

One of our client’s businesses recently took off. Net income basically doubled overnight. Maximizing 401(k) and cash balance plan contributions were barely making a dent in their $1+ million tax bill. Here’s a few things we did that really moved the needle:

Worked with their CPA to determine appropriate salary increases to help beef up cash balance plan contributions.

Set up a donor advised fund to help streamline their charitable donations while reducing their capital gains and NIIT taxes.

Invested in various oil and gas partnerships to reduce current taxes and provide tax-favored income streams.

Worked with their CPA to help restructure their business to provide better protection and streamline cash flow.

Increased contributions to their taxable account to maximize tax-loss harvesting.

It’s too early to know the extent of the impact this will have, but it should be fairly significant. When your financial planner and other professionals work together on your behalf, that’s when you see the greatest impact.

Disclosure:
These are generalized scenarios for educational purposes and are not intended to represent any specific individual or guarantee similar outcomes.

05/25/2026

Remembering and honoring those who have fallen

05/21/2026

Last year saw some big changes in tax law.

Here's a couple changes that take effect this year that you need to know about.

If you're 50 or older and contributing to a workplace retirement plan, the rules around catch-up contributions have changed.

05/18/2026

If financial planning were just about investments, most people wouldn’t need help.

The real value shows up everywhere else...

Before you exercise stock options.
Before you sell a business interest.
Before a bonus hits.
Before a tax decision becomes permanent.

Good planning prevents expensive “I wish I had known that earlier” moments.

The goal isn’t perfection.

It’s fewer mistakes, better timing, and confidence that the plan actually works when life gets messy.

That’s the difference between advice and partnership.

05/13/2026

Are you caring for your parents, or do you anticipate caring for your parents in the near future?

If so, it may be beneficial to get some of the technical stuff sorted out while there’s still time.

Take the time to review their estate planning documents.

Are the beneficiaries still accurate?
Do they have a Heath Care and Durable Power of Attorney in place?
Have you discussed their wishes if they become incapacitated?

Many people plan for these things, but they don’t always pass that information down to their heirs or have it in writing.

Take the time to discuss this with them now, so that you’ll be ready when the time comes for you to make decisions for them.

It may be helpful to review the checklist we compiled to help ensure everything is covered.

Thank you for visiting our website. We hope you find these free resources to be helpful and informative. It is our goal to provide massive value for Small Business Owners and Equity Compensated Professionals, especially those that find themselves in the ‘Sandwich Generation’. We know that you ha...

05/11/2026

One of the things we see pretty regularly when reviewing tax returns for self-employed clients, realtors, attorneys, consultants, contractors, and others, is that expenses are being missed.

Some of the most common ones: a home office deduction (if you have a dedicated space used exclusively for work), vehicle expenses (either actual costs or the standard mileage rate), cell phone costs, health insurance premiums, and retirement plan contributions. These all can reduce your taxable self-employment income, which also reduces your self-employment tax.

Now, we want to be careful here, what's deductible depends on your specific situation, and we're not tax preparers. But as part of your financial plan, it's absolutely worth making sure your Schedule C looks complete. Sometimes just having a conversation with your tax preparer armed with better questions makes a real difference.

And if you're a solopreneur who doesn't have a retirement plan set up yet, that's another area worth exploring. A Solo 401(k) or SEP-IRA can be surprisingly powerful tools for both building wealth and managing your tax bill.

Disclaimer: We don't provide tax advice. Any tax-related scenarios are for general educational purposes only.

05/07/2026

This right here is what it's all about folks.

05/07/2026

If someone asked you what your business is worth, could you answer? Not a rough guess, but an actual number you'd feel confident defending to a buyer, a partner, or an estate attorney?
For most business owners, that question is uncomfortable, not because they haven't thought about it, but because thinking about it forces a bigger question: what happens to this thing I've built if I step away?

If someone asked you what your business is worth, could you answer? Not a rough guess, but an actual number you'd feel confident defending to a buyer, or ....