Financial Matters

Financial Matters

Business Succession Planning

Bill Hortz, Founder of the Institute for Innovation Development, recently interviewed Jennifer Specter, Shareholder/Chief Operations and Compliance Officer, and Alyssa Dalbey, CPWA®, CFP® and Shareholder/Wealth Manager at Schultz Financial Group (SFG) to understand how and why SFG offers succession planning as a standard offering to their business clients. Hortz: Why do you feel your firm

Posted By Schultz Financial Group Inc.
June 19, 2024

Financial Matters

Concentrated Stock Positions: Considerations for Corporate Executives

Building wealth through investments is a fundamental goal for many individuals, and the stock market offers an avenue to achieve that objective. Corporate executives can receive a significant portion of their compensation in the form of equity, such as stock options, restricted stock units (RSUs), or company shares. While equity compensation can be a valuable

Posted By Schultz Financial Group Inc.
April 25, 2024

Retirement Planning

Mega Backdoor Roth Conversions

Mega backdoor Roth conversions give high-income earners an opportunity to participate in after-tax savings and tax-free investing. This strategy is available to individuals that participate in a qualified retirement plan, such as a 401(k), that allows after-tax contributions to the plan. Who Should Consider a Mega Backdoor Roth Conversion A mega backdoor Roth conversion may

Posted By Alyssa Dalbey
April 22, 2024

Financial Planning

Health Savings Accounts (HSAs) – 2024 Limits

A Health Savings Account (HSA) is a tax-advantaged medical savings account available to individuals who are enrolled in high-deductible health plans. HSAs have three main tax advantages.

Posted By Alyssa Dalbey
April 22, 2024

Retirement Planning

2024 Retirement Plan Contribution Limits

Retirement plan contribution limits are reviewed each year and are occasionally adjusted by the IRS. Table 1 below summarizes retirement plan contribution limits for 2024. Table 1: Retirement Plan Contribution Limits (2024) Retirement Plan Type 2024 Contribution Limit Age 50+ Catch-up Contribution Limit Individual Retirement Account (IRA) $7,000 $1,000 Simple IRA $16,000 $3,500 SEP 25%

Posted By Alyssa Dalbey
April 21, 2024

Tax Planning

Medical Expense Tax Deduction for 2024

Qualifying medical expenses include preventative care, treatment, surgeries, dental care, vision care, psychologists, psychiatrists, prescription medications, and appliances such as glasses, contacts, false teeth, and hearing aids, among others.

Posted By Alyssa Dalbey
April 19, 2024