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 ByAt 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 ByUnderstanding 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 ByTypically, 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 ByThe 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 ByA 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).
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