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Tax Planning

News and information to help improve your Four Capitals
the approach
Financial Matters

Year-End Tax Planning Strategies

At Schultz Financial Group (SFG), we view wealth differently through our Four Capital approach. Our team works with you to build your wealth across Four Capitals – Financial Matters, Physical Well-being, Intellectual Engagement, and Psychological Space. This article focuses on an important aspect of Financial Matters: Year-end tax planning.  Year-end tax planning plays a crucial

Posted By Schultz Financial Group Inc.
November 21, 2020
Financial Matters

Charitable Gifts in 2020

At Schultz Financial Group (SFG), we view wealth differently through our Four Capital approach. Our team works with you to build your wealth across Four Capitals – Financial Matters, Physical Well-being, Intellectual Engagement, and Psychological Space. This post focuses on two of the four capitals: Financial Matters and Psychological Space. The holiday season is often associated

Posted By Alyssa Yocom
November 18, 2020
Retirement Planning

Understanding Required Minimum Distributions

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.

Posted By Alyssa Yocom
November 18, 2020
Tax Planning

Charitable Deductions Allowed Up to 100% of AGI in 2020

Typically, tax law limits charitable deductions to 60% of your adjusted gross income (AGI). However, there is a temporary suspension of the limits on deductible charitable contributions under the CARES Act. For a contribution to qualify, it must be a cash contribution made to a qualifying organization during the 2020 calendar year. Donor Advised Funds

Posted By Alyssa Yocom
August 6, 2020
Tax Planning

$300 Above-the-Line Charitable Tax Deduction

The Coronavirus Aid, Relief, and Economic Security (CARES) Act added an above-the-line tax deduction for 2020. Taxpayers who make a qualified charitable contribution and who do not itemize their deductions using Schedule A may be eligible for a deduction from the calculation of gross income.

Posted By Alyssa Yocom
May 20, 2020
Tax Planning

Qualified Charitable Distributions

A Qualified Charitable Distribution (QCD) is a helpful tax-planning tool for those who are charitably inclined. It is a charitable donation from an Individual Retirement Account (IRA).

Posted By Alyssa Yocom
August 16, 2019