Page 16 - The Jewish Voice - December '23

Page 16, The Jewish Voice

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Financial Focus Next, look closely at the groups to whom you wish you expand your ability to support the charitable groups
to contribute. You can find many reputable charities, but whose work you admire.
Can You Make Charitable Giving Less some others may be less worthy of your support. One of This article was written by Edward Jones for use by
“Taxing”? the red flags of a questionable organization is the amount your local Edward Jones Financial Advisor, Edward
of money it spends on administrative costs versus the Jones, Member SIPC.
By Sally Sima Stahl amount that goes to its stated purpose. You can check on Edward Jones is a licensed insurance producer in
Once again, it’s the the spending patterns of charitable groups, and find other all states and Washington, D.C., through Edward D.
season of generosity. In valuable information about them, on the well-regarded Jones & Co., L.P., and in California, New Mexico and
addition to considering gifts Charity Navigator website (charitynavigator.org). Massachusetts through Edward Jones Insurance Agency
for your loved ones, you Once you’ve established a gift budget and are of California, L.L.C.; Edward Jones Insurance Agency of
might want to think about comfortable with the groups you choose to support, you New Mexico, L.L.C.; and Edward Jones Insurance Agency
charitable gifts. But what might turn your thoughts to another key issue connected of Massachusetts, L.L.C.
should you know before with charitable giving: tax benefits. A few years ago, Edward Jones, its employees and financial advisors
making gifts to charities? changes in the tax laws resulted in a large increase in the cannot provide tax advice. You should consult your
And what impact might standard deduction, which meant that many taxpayers qualified tax advisor regarding your situation.
these gifts have on your found it more favorable not to itemize — and lost the Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
financial and tax situation? ability to take charitable deductions. But if you still 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
First, you may want to create a gift budget by deciding do itemize, your charitable gifts or contributions to
just how much you will give to charitable organizations tax-exempt groups — those that qualify as 501(c)(3)
over the rest of the year. organizations — can generally be deducted, up to 60 Beware of Unequal
percent of your adjusted gross income, although lower Contributions When
limits may apply, depending on the nature of your gift
Community Calendar from page 15 and the organization to which you’re contributing. Purchasing a House

Tuesday, Jan. 9, 11 a.m. Other, more long-term avenues also exist that combine
Sisterhood N charitable giving with potential tax benefits. One such By Anné Desormier-
Join TJ’s Sisterhood for a private tour of Artists possibility is a donor-advised fund, which allows you to Cartwright, Esq.
in Motion: Modern Masterpieces from the Pearlman make an irrevocable charitable contribution and receive At a time of record
Collection with temple member and docent, Joanne an immediate tax deduction. You can give cash, but if home unaffordability, more
Weingarten you donate appreciated assets, such as stocks, your tax people are teaming up with
$18/person deduction would be the fair market value of the assets, friends and relatives to
RSVP required by Jan. 2 to the temple office at up to 30 percent of your adjusted gross income. Plus, you realize the home ownership
561-624-4633 would not incur the capital gains tax that would otherwise dream. According to the
Wednesday, Jan. 10, 12 p.m. be due upon the sale of these assets. Once you establish National Association of
Lunch and Learn Mysteries of the Torah with Rabbi a donor-advised fund, you have the flexibility to make Realtors (NAR), more than
Feivel – “Jewish Mysticism” 75 percent of homes on
$22 / person. Reservations Required. Call 561-624- charitable gifts over time, and you can contribute to the
4633 fund as often as you like. the market now are too
Thursday, Jan. 11 and Thursday, Jan. 25, 4 to 5 p.m. Another possible tax benefit from making charitable expensive for middle-income buyers. Just five years ago,
Genealogy Class with Allan Huss contributions could arrive when you start taking required this same income group could afford half of all available
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Friday, Jan. 12, 7:30 p.m. minimum distributions, or RMDs, from some of your homes. From 2010 to 2020, the number of homes bought
MLK Shabbat retirement accounts, such as your traditional IRA and by people with different last names soared by more than
Shabbat Worship in memory of Dr. Martin Luther 401(k). These RMDs could be sizable — and distributions 770 percent. This group includes friends, roommates,
King, Jr. are counted as taxable income. But by taking what’s and married couples. In 2021, the percentage of single-
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Wednesday, Jan. 17, 9:30 a.m. to 1 p.m. called a qualified charitable distribution (QCD), you can family homes purchased by nonmarried co-buyers was
Volunteer Opportunity at Feeding Hope Village to pack move money from a traditional or Roth IRA to a qualified 25 percent, up from 17.4 percent in 2018. Purchasing a
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and distribute meals to the food insecure. charitable organization, possibly satisfying your RMD, property with other people can help a buyer to lower their
Call the office to register at 561-624-4633 or rose@ individual costs while building equity. However, going in
gotj.org which then may be excluded from your taxable income.
Thursday, Jan. 18, 10:30 a.m. You must start taking RMDs at 73 but you can begin on a house together can also create trouble spots, including
Women in the Torah with Rabbi Rose making QCDs of up to $100,000 per year as early as age survivorship and inheritance issues.
25 Years of the Red Tent: Hearing Women’s Missing 70½. (This amount will be indexed for inflation after A home is the largest single investment most people
Voices 2023.) make. When buying a home with another person, the co-
Brunch – RSVP required! Call 561-624-4633 Establishing a donor-advised fund and making owners must decide how to hold the title so that it aligns
Thursday, Jan. 18, 1 p.m. qualified charitable distributions are significant moves, with their wealth-building and estate-planning goals.
Candid Conversation for Women with Marcia so you’ll need to consult with your tax advisor first. But
Grobman, LCSW if they’re appropriate for your situation, they may help Lifestyles on page 17
Candid conversations regarding various issues we
face in our day to day lives.
Open to all TJ Women.
Friday, Jan. 19, 7:30 p.m. SHABBAT SHIRA AT TEMPLE ISRAEL
Pink Shabbat
Join us for an inspirational Shabbat of spiritual
renewal and celebration as we honor those who have Featuring the installation of our new co-senior rabbis and
joined in the fight to beat cancer and have committed
themselves to the blessing of life. music by nationally touring Jewish musician Alan Goodis
Wear Pink!
Sunday, Jan. 21, 9 a.m.
TJ Tots with Cantor Abbie
For ages 0 – Pre-K and their parents and grandparents
who love them. Celebrate Judaism in the language of
children with music, movement and rituals.
Monday, Jan. 22, 5 p.m.
A Taste of Torah with Rabbi Yaron
Numbers. In Hebrew, B’midbar. This book recounts
the wandering of the ancient Israelites through the
desert and spells out more of God’s laws.
Friday, Jan. 26, 7:30 p.m.
Shabbat Shirah
Bring your table of friends! Delicious Lunch &
Exciting Raffle Prizes
Reservations Required – Call Pat at 561-624-4633
Ongoing Events:
Fridays RABBIS CARLIE & RYAN DANIELS ALAN GOODIS
Shabbat Worship
7:30 p.m. Shabbat Worship Friday, January 26, 2024
Dessert Oneg Following Services
Minyan
Mondays
9:30 a.m. via Zoom Free & Open to the
Thursdays
9:30 a.m. in person and via Livestream Community! RSVP Required:
Saturdays
9 to 11 a.m., Torah Study via Zoom
h bit.ly/tishabbatshira