Page 28 - PGA Community News - December '24

Page 28, PGA C.A.N.! 2 Spaces December 2024
December 2024

Benzaiten Center For Creative Arts

South Florida Studio

Showdown

Benzaiten Center For Creative Arts
For more information call (561) 508-7315
www.benzaitencenter.org
We are kicking off our 10th Anniversary Season with
our own version of the Netflix show, Blown Away. We
call it the great South Florida Studio Showdown. This
is where we bring together all the top glassblowers who
are living and working in South Florida from both coasts.
Participating will be international artist, Rob Stern and
Brenna Baker who both appeared on Blown Away!
All the artists will work on their own individual pieces,
and then they will all be assembled to make one large,
impressive piece. Last year’s work had an ocean theme.
See pictures at right showing the front and back of the
piece. Financial Focus ®
We are continuing with our holiday classes and
workshops in Fused Christmas Ornaments, Glass-blown
Christmas Ornaments, and Flameworked Christmas Consider Tax-Smart Of course, if you need some or all your RMDs to help
Ornaments, as well as our Fused Glass Menorah Workshop. sustain yourself in retirement, the use of QCDs may not be
Besides all these seasonal workshops we conduct our Charitable Gifts of interest to you. Keep in mind, though, that you can start
normal classes in glassblowing, flameworking, fusing making QCDs at 70½, even before you must start taking
and welding. As for our fun, two-day welding workshops, By Sally Sima Stahl RMDs. QCDs up to $105,000 can be taken in 2024.
where else in Palm Beach County can one sign up for a As we enter the annual • Consider a donor-advised fund. If you’re interested in
two-day workshop to play with sparks? season of giving, you might a long-term charitable giving arrangement, you might want
And please think of us for all your other holiday gift- be thinking of charities you to consider establishing a donor-advised fund. You can put
giving needs. We have unique and affordable items in our wish to support. But you many types of assets into this fund, and then direct it to
gift shop that are perfect for office gifts as well as friends also might be wondering make grants periodically to the charities you’ve chosen.
and family. Also, our gift certificates make great gifts and how to gain some tax You get an immediate tax deduction for your contribution,
there are a lot of different options. Call the center to find benefits from your gifts. and, if you donate appreciated assets, such as stocks, you’ll
out about them. It used to be pretty avoid the capital gains taxes you would have incurred if
By being on our mailing list you will always be up straightforward: You wrote you simply sold the stocks and then gave the money to the
to date about our class offerings as well as our much- a check to a charity and charities. One note of caution, though—your contributions
anticipated visiting artist events. We have a stellar lineup then deducted the amount to a donor-advised fund are irrevocable, and once the assets
of glassblowing artists this year, so we don’t want you of the gift, within limits, from your taxes. But a few years are in the fund, you can’t use them for anything except
to miss out. If you have never been to one of our “artist ago, as part of tax law changes, the standard deduction charitable giving.
blow-outs,” you are really missing a great opportunity to was raised significantly, so fewer people were able to These strategies—QCDs and donor-advised funds in
see some of the best glassblowers from around the world itemize deductions. Consequently, there was less financial particular—can be complex and involve several issues
perform in real time. Besides a three-hour fiery, muscular incentive to make charitable gifts. of which you should be aware. So, you should consult
glassblowing demonstration by our visiting artists, we Of course, this didn’t entirely stop people from making your tax advisor before taking action. But if any of these
pump up the action by providing live music from some of them. And it’s still possible to gain some tax advantages, too. techniques are appropriate for your situation, give them
our most talented, local musicians. We also provide tasty Here are a few tax-smart charitable giving strategies: some thought—because helping a charitable group and
nibbles and two drink tickets (you can purchase more). • Bunch your charitable gifts into one year. If you getting tax benefits for doing so is a “win” for everyone.
All these events were sold out last year. So this year, we combine a few years’ worth of charitable gifts in a single This article was written by Edward Jones for use by
have been forced to raise the reservation price to $25 per year, you could surpass the standard deduction amount and your local Edward Jones Financial Advisor, Edward Jones,
person, and extra to reserve front row seating. then itemize deductions for that year. In the years following, Member SIPC.
Check out their website for all the fun classes, you could revert to taking the standard deduction. Edward Jones is a licensed insurance producer in
workshops, visiting artists’ events and fundraisers planned • Make qualified charitable distributions. Once you turn all states and Washington, D.C., through Edward D.
for this upcoming season. Do not miss out on the fun! 73 (or 75 if you were born in 1960 or later), you must start Jones & Co., L.P., and in California, New Mexico and
www.benzaitencenter.org taking withdrawals from your traditional or inherited IRA. Massachusetts through Edward Jones Insurance Agency
(561) 508-7315 These withdrawals—technically called required minimum of California, L.L.C.; Edward Jones Insurance Agency of
Hours distributions, or RMDs—are taxable at your personal New Mexico, L.L.C.; and Edward Jones Insurance Agency
Tuesday through Saturday from 10 a.m. to 5 p.m. income tax rate, so, if the amounts are large enough, they of Massachusetts, L.L.C.
Find Us could push you into a higher tax bracket or cause you to Edward Jones, its employees and financial advisors
1105 Second Avenue South, Lake Worth Beach, FL 33460 pay larger Medicare premiums. cannot provide tax advice. You should consult your
GPS doesn’t always get you here: Exit I-95 at Sixth But if you donate these RMDs directly to a qualified qualified tax advisor regarding your situation.
Avenue and go east. Take a left at the blue Kwik Stop charity, you can avoid the taxes. And because these Contact us at (561) 748-7600, Sally Sima Stahl,
Store and then a right on Third Avenue South. Park in donations, known as qualified charitable distributions CFP , AAMS™, 1851 W. Indiantown Road, Ste. 106,
®
our parking lot or anywhere on the street. (QCDs), will reduce the balance on your IRA, you may Jupiter, FL 33458.
have lower RMDs in the future.
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