Mefford Wealth Management

06/26/2026

One of the most common conversations I have with business owners goes something like this:

"My CPA mentioned an S-Corp, but I don't know if it's worth it."

The truth is, there isn't a magic income number where every business should become an S-Corp.

But once profits start getting into the six figures, it's often worth taking a closer look.

For some businesses, the tax savings can be significant.

For others, the additional payroll, filings, and complexity outweigh the benefits.

That's why the goal isn't to become an S-Corp.

The goal is to determine whether becoming an S-Corp would leave more money in your pocket after all the costs are considered.

That's tax planning.

Not guessing.

Not following advice from TikTok.

And not finding out after the year is already over.

06/25/2026

A $50,000 Solo 401(k).

A $70,000 Section 179 deduction.

A $14,000 wage paid to a child working in the business.

The result?

Projected taxable income fell from approximately $250,000 to $116,000.

For someone in a 30% tax bracket, that could represent roughly $40,000 in tax savings.

But the most interesting part isn't the tax savings.

The retirement money still belongs to the business owner.

The income stayed in the family.

And the child may now be eligible to begin building wealth through a Roth IRA.

That's the difference between tax preparation and tax planning.

One looks backward.

The other identifies opportunities before they disappear.

What opportunities are you missing?

06/24/2026

A $134,000 tax reduction is impressive.

What happened to the money is even more interesting.

A business owner was projecting approximately $250,000 of taxable income.

Through proactive planning, they:

✓ Contributed $50,000 to a Solo 401(k)

✓ Generated a $70,000 Section 179 deduction

✓ Paid their child $14,000 for legitimate work performed in the business

✓ Potentially saved about $40,000 in taxes.

The result?

Projected taxable income fell from approximately $250,000 to $116,000.

But here's the part many people miss.

The $50,000 in the Solo 401(k) still belongs to the business owner.

The $14,000 stayed in the family.

The child may pay no federal income tax on that income.

And because they now have earned income, they may be able to begin building wealth through a Roth IRA.

Tax planning isn't just about reducing taxes.

It's about making smarter decisions with the dollars you already earn.

The biggest opportunities are often found before December 31, not during tax season.

06/21/2026

Long before there were portfolios, paychecks, and retirement plans, there were fathers teaching lessons that still guide us today.

Today is a reminder that some of the most important things in life can't be measured on a balance sheet.

The guidance.
The sacrifices.
The lessons.
The steady presence.

To all the dads, grandfathers, stepdads, and father figures who continue to show up every day, thank you.

And for those who are missing their father today, navigating a complicated relationship, or wishing they had experienced that kind of support, know that you're in my thoughts as well.

Wishing everyone a meaningful Father's Day.

– Bobby Mefford
Mefford Wealth Management

06/19/2026

One planning decision saved this business owner about $15,000.

A second decision potentially saved another $21,000.

Total potential savings:

≈ $36,000

The biggest tax opportunities usually don't happen during tax season.

They happen before it.

06/16/2026

Last week, we showed how one business owner reduced taxable income by $50,000 through a Solo 401(k).

But the story didn't end there.

The business owner also needed a new vehicle.

The question wasn't whether to buy it.

The question was when.

By coordinating that purchase with their overall tax plan, they uncovered additional tax savings that may not have existed if they waited.

That's what tax planning looks like.

Not finding loopholes.

Not chasing gimmicks.

Making smart decisions before December 31.

What opportunities might you be missing?

06/12/2026

A business owner was projecting $250,000 of taxable income.

A simple planning conversation uncovered an opportunity to contribute $50,000 to a Solo 401(k).

Result:

• Taxable income reduced from $250,000 to $200,000
• Approximately $15,000 in tax savings
• $50,000 moved toward future retirement

That's the difference between tax preparation and tax planning.

Many of the biggest opportunities happen before December 31, not during tax season.

06/11/2026

The biggest story around SpaceX isn't what you think.

I'm more interested in the ripples than the splash.

Because one stock should never define an investment strategy.

Your strategy should determine whether a stock belongs in your portfolio.

What do you think?

06/10/2026

This business owner was projecting $250,000 of taxable income.

One planning decision reduced that by $50,000.

Estimated tax savings: approximately $15,000.

That's the difference between tax preparation and tax planning.

The best opportunities usually happen before December 31.

06/08/2026

Markets continued their upward climb in May, supported by strong technology performance, positive economic data, and ongoing diplomatic efforts in the Middle East. The Nasdaq gained 8.36%, the S&P 500 rose 5.15%, and Canada’s S&P/TSX Composite added 2.37%, while investors welcomed better-than-expected job growth and upbeat corporate earnings. With the Fed's next meeting scheduled for June, attention is turning to updated economic projections and what they may signal about the broader economy. From \$24 billion spent on Father's Day to the popularity of dining out and special outings, this month's by-the-numbers highlights how families celebrate the dads in their lives.

Monthly Market Insights | June 2026 U.S. and Canadian Markets Stocks pushed higher in May, fueled by big tech names, positive economic news, and ongoing diplomatic efforts in the Middle East. The Nasdaq Composite, which rose 15.29 percent in April, tacked on another 8.36 percent. The Standard & Poor...