Many successful individuals want to support charitable causes without sacrificing financial security. A Charitable Remainder Trust (CRT) can help bridge this gap as it provides lifetime income to a non-charitable beneficiary, an immediate tax deduction to the donor, and reduces estate taxes by gifting the remainder benefit to charity. Below, we answer common questions about
Charitable gifting can occur throughout the year; however, many individuals and families focus on their charitable giving in the fourth quarter as it coincides with annual tax planning. Charitable donations are tax deductible for individuals who itemize their deductions when they file their tax return. The annual deduction limit for gifts to public charities is
As the year draws to a close, individuals and business owners often find themselves balancing year-end goals, holiday plans, and financial reviews. Amid the activity, it’s essential not to overlook year-end tax planning. Taking time now to review your income, deductions, and investment activity can meaningfully impact your long-term financial position. At Schultz Financial Group
On July 4, 2025, President Trump signed H.R.1, the One Big Beautiful Bill Act (OBBBA) into law. This bill builds on the foundation laid by the 2017 Tax Cuts and Jobs Act (TCJA). OBBBA extends many of the provisions from TCJA and introduces a series of new deductions, credits, incentives, and planning opportunities for affluent
Understanding Required Minimum Distributions (RMD) is imperative for effective retirement planning. RMD rules can be complicated and difficult to understand, so we’ve outlined common questions and explanations to help you.