Page 10 - Jupiter Spotlight - December '23

Page 10, Jupiter Spotlight
Financial Focus ®

Can You Make Charitable to 60 percent of your adjusted gross income, although lower from your taxable income. You must start taking RMDs at
73 but you can begin making QCDs of up to $100,000 per
limits may apply, depending on the nature of your gift and
Giving Less “Taxing”? the organization to which you’re contributing. year as early as age 70½. (This amount will be indexed for
Other, more long-term avenues also exist that combine inflation after 2023.)
By Sally Sima Stahl charitable giving with potential tax benefits. One such Establishing a donor-advised fund and making qualified
Once again, it’s the season possibility is a donor-advised fund, which allows you to charitable distributions are significant moves, so you’ll
of generosity. In addition to make an irrevocable charitable contribution and receive an need to consult with your tax advisor first. But if they’re
considering gifts for your immediate tax deduction. You can give cash, but if you donate appropriate for your situation, they may help you expand
loved ones, you might want appreciated assets, such as stocks, your tax deduction would your ability to support the charitable groups whose work
to think about charitable gifts be the fair market value of the assets, up to 30 percent of you admire.
as well. But what should your adjusted gross income. Plus, you would not incur the This article was written by Edward Jones for use by
you know before making capital gains tax that would otherwise be due upon the sale your local Edward Jones Financial Advisor, Edward Jones,
gifts to charities? And what of these assets. Once you establish a donor-advised fund, Member SIPC.
impact might these gifts have you have the flexibility to make charitable gifts over time, Edward Jones is a licensed insurance producer in all states
on your financial and tax and you can contribute to the fund as often as you like. and Washington, D.C., through Edward D. Jones & Co., L.P.,
situation? Another possible tax benefit from making charitable and in California, New Mexico and Massachusetts through
First, you may want to create a gift budget by deciding contributions could arrive when you start taking required Edward Jones Insurance Agency of California, L.L.C.;
just how much you will give to charitable organizations over minimum distributions, or RMDs, from some of your Edward Jones Insurance Agency of New Mexico, L.L.C.; and
the rest of the year. retirement accounts, such as your traditional IRA and 401(k). Edward Jones Insurance Agency of Massachusetts, L.L.C.
Next, look closely at the groups to whom you wish to These RMDs could be sizable – and distributions are counted Edward Jones, its employees and financial advisors
contribute. You can find many reputable charities, but some as taxable income. But by taking what’s called a qualified cannot provide tax advice. You should consult your qualified
others may be less worthy of your support. One of the red charitable distribution (QCD), you can move money from a tax advisor regarding your situation.
flags of a questionable organization is the amount of money traditional or Roth IRA to a qualified charitable organization, Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
it spends on administrative costs versus the amount that goes possibly satisfying your RMD, which then may be excluded 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
to its stated purpose. You can check on the spending patterns
of charitable groups, and find other valuable information Have Medicare questions? I have answers.
about them, on the well-regarded Charity Navigator website
(charitynavigator.org).
Once you’ve established a gift budget and are comfortable
with the groups you choose to support, you might turn your
thoughts to another key issue connected with charitable
giving: tax benefits. A few years ago, changes in the tax Kathy Olejniczak
laws resulted in a large increase in the standard deduction,
which meant that many taxpayers found it more favorable Licensed Sales Agent
not to itemize – and lost the ability to take charitable 561-212-7640, TTY 711
deductions. But if you still do itemize, your charitable gifts
or contributions to tax-exempt groups – those that qualify
as 501(c)(3) organizations – can generally be deducted, up

Stop Yelling At Y0066_21SPRJ55188_C

Your Kids

By Jim Forgan, Ph.D.,
School Psychologist
“Here we go again,
mom’s rocket launcher
went off and she’s yelling
at me.” This statement
captures how kids I work
with often describe how
their mom or dad deals
with them when they are
not acting right. “Yelling
is the only way I can get
him to listen and behave,” is a common parent response.
All agree, yelling does not contribute to a peaceful home.
Yes, at times we parents must raise our voices and make
it stern and serious. But yelling, shouting, screaming, and
threatening is parenting by instilling fear into your child.
Unfortunately, fear and intimidation don’t produce lasting
behavioral changes. Sure, your child might behave when
you’re around but leave them with relatives or a sitter and
prepare yourself for a bad report. When you yell at your
child to get him to do what you want, he is learning that’s
how he should treat his peers or friends when he encounters
someone who doesn’t do what he wants. You are the example
he looks to for learning how to interact with others.
Do you yell at your child when he asks you to read an
unknown word from his homework? No, you teach him
how to pronounce the word. Try to maintain this teaching
mindset when it comes to his behavior. Keep teaching him
over and over how to behave appropriately.
Perhaps ask him questions instead of yelling commands.
“Are you being helpful? Is this good for the family? What
will happen if you don’t stop?” People often tune out
yelling, but a question has an implied response requirement.
Being asked a question requires reflection and thought, and
this helps your child’s mind to shift and transition. Parenting
requires us to modify our behavior just like modifying our
child’s behavior so keep learning and practicing.
Maybe you’ve thought, “Why does he act like
that? Maybe there is something wrong with him. Is he
ADHD or maybe autistic?” Our testing process provides
information to help answer your questions. Call to discuss
your child as we test for autism, dyslexia, dysgraphia,
ADHD, depression, learning disabilities, and anxiety.
Visit JimForgan.com or call (561) 625-4125.