Page 7 - Jupiter Spotlight - November '24

Jupiter Spotlight, Page 7
Financial Focus ® Jupiter Senior

Donor-Advised Funds: A matter, virtually any appreciated asset – to a DAF, you can
avoid paying the capital gains taxes that would otherwise
Smart Way To Give be due if you were to simply sell the asset and then Softball
donate the proceeds to charitable organizations. Plus, by
By Sally Sima Stahl receiving the appreciated asset, rather than the proceeds The Jupiter Senior Softball program, which has
You can find several ways from a sale, the charitable groups can gain more from had record membership increases in recent years, has
to make charitable gifts but if your contribution. And you can also take a tax deduction opened registration for the 2025 season and persons
you’re looking for a method for your donation. of all abilities are welcome.
that can provide multiple While these potential tax benefits can certainly make a The slow-pitch league is open to persons 55 and
tax benefits, along with an DAF an attractive method of charitable giving, you should over and persons who register can play in pickup
efficient platform for giving be aware of some potential tradeoffs. Once you contribute games through the remainder of this year as well
year after year, you might assets to a DAF, that gift is irrevocable, and you can’t as through 2025. “We had 243 members this year
want to consider a donor- access the money for any reason other than charitable which is a 20 percent increase over 2023,” said
advised fund. giving. Also, your investment options are limited to what’s Commissioner Paul Storch.
Once you open a donor- available in the DAF program you’ve chosen. And DAFs The league’s three-division format accommodates
advised fund (DAF), you can can incur administrative costs in addition to the fees persons of all skill levels, from recreational play, to
contribute many types of assets, including cash, publicly charged on the underlying investments. very competitive and everything in between. Games
traded stocks, bonds, CDs or non-cash items such as You may want to consult with your financial are every Monday, Wednesday and Friday morning at
closely held business interests, art or collectibles. You can professional about other potential benefits and tradeoffs Jupiter Community Park, beginning at 8:30 a.m.
then decide how to invest the money, possibly following a of DAFs and whether a DAF can help you with your This year’s January–March Winter League that
strategy suggested by the DAF sponsor organization you’ve charitable giving goals. Also, different DAF sponsors featured five teams in three divisions also was a
selected. The next step involves choosing which charities offer different features, so you will want to do some record. Players are coming from as far away as Port St.
to support, how often to provide support (such as once a comparisons. And because DAFs can have such Lucie in the north as well as from the Jupiter-Tequesta
year) and how much to give each time. You’re essentially significant implications for your tax situation, you should area and other North County communities.
free to direct the money to any charities you like, provided consult with your tax professional before taking action. Players most often
they’re IRS-approved charitable organizations. If a DAF is appropriate for your situation, though, cite the camaraderie of
Now, let’s look at the possible tax advantages offered by consider it carefully — it might be a good way to support playing a game they love
a DAF: your charitable giving efforts for years to come. with others as among
• Immediate tax deduction – A few years ago, changes in This article was written by Edward Jones for use by the reasons they signed
tax laws resulted in a vastly increased standard deduction, your local Edward Jones Financial Advisor, Edward up. They include retired
which, in turn, led to far fewer people itemizing on their Jones, Member SIPC. Jersey City, N.J., fire
tax returns and having less incentive, at least from a tax Edward Jones is a licensed insurance producer in captain John Cariero, who
standpoint, to contribute to charities. But if you don’t all states and Washington, D.C., through Edward D. said, “It’s like being in the
typically give enough each year to itemize deductions, Jones & Co., L.P., and in California, New Mexico and fire service again. I have
you could combine several years’ worth of giving into one Massachusetts through Edward Jones Insurance Agency a whole new brotherhood
contribution to a DAF and take a larger deduction in that tax of California, L.L.C.; Edward Jones Insurance Agency of of friends.”
year. And you can claim that deduction, even though the DAF New Mexico, L.L.C.; and Edward Jones Insurance Agency A Jupiter Farms
may distribute funds to charities over several years. of Massachusetts, L.L.C. resident, Cariero joined
• Tax-free growth of earnings – Once you contribute an asset Edward Jones, its employees and financial advisors the softball program in Retired fire captain John
to a DAF, any earnings growth is not taxable to you, the DAF cannot provide tax advice. You should consult your 2017, upon retiring from Cariero, 61, about to make
or the charitable groups that receive grants from the DAF. qualified tax advisor regarding your situation. his 25-year career in the contact
• Avoidance of capital gains taxes – When you donate Contact us at (561) 748-7600, Sally Sima Stahl, CFP , fire service and relocating
®
™
appreciated stocks or other investments – or for that AAMS , 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458. with his family to Jupiter. His stellar play in center field has
earned him the nickname “Johnny Big Glove.” He’s also
undergone two knee replacements and serves as Executive
Experience Dentistry Director of the Jupiter Senior Softball Association.
Also enthusiastic about playing senior softball
is Barry Skolnik, who turns 78 October 31. “I can’t
tell you how many friendships I’ve made and I think
it keeps me healthy,” he said. The senior softball
program is sponsored by the nonprofit Jupiter Senior
with a Softball Association in cooperation with Jupiter’s
Parks and Recreation Department.
Registration can be made online at www.
leaguelineup.com/jssa. For more information contact
Gary Newman at (917) 623-0791.
Woman’s Touch

Cosmetic & Comprehensive Restorative Dentistry

State of the Art & Same Day Restorations

Nitrous Oxide/Oxygen Sedation Available
Pitcher Barry Skolnik, 78, is grateful for the friendships
he’s made.
Joanne Green, D.D.S.

10887 N. Military Trail, Suite 6

Palm Beach Gardens, FL 33410

(561) 622-2815

www.joannegreendds.com

Captain’s was established in 1980 servicing
Palm Beach County and is a privately
Medical College of Virginia School of Dentistry - Cum Laude owned and managed company.
Captain’s is committed to providing
Hospital of the University of Penn - General Practice Residency Training dependable, reliable and professional
Harvard Dental School - Former Instructor ground transportation to and from all
South Florida Airports and Seaports.
Boston Brigham and Women’s Dental Group - Staff Dentist To reserve your vehicle: PBCVH212
561-798-2180 or 800-634-7890 www.captainsairport.com