Page 16 - Talk of Tequesta - April '25

Page 16, The Talk Of Tequesta

finanCial foCus ®

Time For Some Financial Spring Cleaning

By Sally Sima Stahl, Edward Jones

Spring is here – which investments whose value has increased so much that they large medical bill. If you don’t have the money available
means it’s once again time to now take up a larger percentage of your portfolio – and to pay these expenses, you might be forced to dip into your
wash the windows, organize carry a higher degree of risk – than you originally intended. retirement accounts or run up your credit card or take out
your cabinets and steam If that’s the case, you might be better off by selling some of a high-rate loan. To protect yourself from having to make
your carpets. This year, in these investments and purchasing others to help bring your these moves, you may want to maintain an emergency fund
addition to tidying up around investment mix back to its desired alignment. containing several months’ worth of living expenses, with
your house, why not also • Dust off your investment strategy. With more sunlight the money kept in a liquid account, separate from those
consider some financial now pouring in your house, you might notice that the corners you use for your daily living expenses.
spring cleaning? of your walls and ceiling may need a good dusting. And as Of course, some of these moves can take some time –
Here are some suggestions you continually work to strengthen your financial foundation, but by getting started on them soon, you can help put your
to consider: you may need to dust off your investment strategy, especially financial house in better shape by the time the next spring
• “De-clutter” your if you’ve recently experienced changes in your life, such as cleaning rolls around.
investment portfolio. When you embark on your home cleaning a marriage, addition of children, new job, and so on. And as This article was written by Edward Jones for use by
mission, you might notice that you have redundancies – three you move closer to retirement, you may also need to adjust your local Edward Jones Financial Advisor, Edward Jones,
blenders, two vacuum cleaners, and so on. Similarly, you might your strategy in some ways. For one thing, you might want to Member SIPC.
find duplications in your investment portfolio, perhaps in the adopt a more conservative investment approach in the years Edward Jones is a licensed insurance producer in all states
form of multiple, near-identical stocks or mutual funds. If so, immediately preceding your retirement, though you’ll still and Washington, D.C., through Edward D. Jones & Co., L.P.,
then it might be worthwhile to consider selling some of these need to have some growth potential in your portfolio to help and in California, New Mexico and Massachusetts through
investments and using the proceeds to boost your portfolio in keep you ahead of inflation. Edward Jones Insurance Agency of California, L.L.C.;
other areas in which you may be lacking. • Protect yourself from financial dangers. As you go Edward Jones Insurance Agency of New Mexico, L.L.C.; and
• Cut back on “overgrown” investments. Now that winter about your household spring cleaning, you may find Edward Jones Insurance Agency of Massachusetts, L.L.C.
is over and you’re venturing outside more, you may notice actual physical dangers that need to be removed or stored Edward Jones, its employees and financial advisors cannot
some overgrown shrubbery or some tree branches that need more safely, such as sharp objects or broken tools. And provide tax advice. You should consult your qualified tax
pruning. And while it may sound counterintuitive, you might as you navigate daily life, you may also find threats to advisor regarding your situation.
also have some investments that have grown too big for your your financial safety – the need for an expensive home Contact us at (561) 748-7600, Sally Sima Stahl, CFP ,
®
needs. For example, you might own some growth-oriented improvement, or a major car repair or an unexpectedly AAMS™, 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.

Commissioner’s Update

Free Tax Services Offered To Palm Beach County Residents

By Mayor Maria G. Marino

It’s that time of year when • A Photo ID card (driver’s license, etc.), including VITA volunteers will NOT prepare Schedule D
the United Way of Palm spouse’s, if married and filing joint return (Complex), Schedule E, Employee Business Expenses,
Beach County teams up • For Dependent Care Credit, bring care provider’s Moving Expenses and Nondeductible IRA.
with IRS-certified Volunteer name, address, SSN/EIN, and amount you paid This Free Tax Assistance is offered from Thursday,
Income Tax Assistance • For Education Credit, bring 1098T or 1098E and January 22 to Tuesday, April 15. Don’t miss this deadline!
(VITA) volunteers for a amount paid for qualified expenses To find a VITA site location near you, call 211 or visit
tax-free filing campaign. • Form 1095-A, Health Insurance Marketplace Statement www.TaxesFiledFree.org.
This initiative offers free, If married and filing a joint return, both spouses must
confidential, and secure tax come to the VITA site.
preparation and e-filing for
qualified taxpayers. Taxes
Filed Free provides two easy
and stress-free ways to file at no cost: taxpayers can file online
at www.MyFreeTaxes.com anytime and anywhere, or they
can meet with an IRS-certified volunteer in person at one of
16 locations throughout the county. Volunteers are available
to assist in English, Spanish, Creole and sign language, with
no appointment required.
To make it easier to prepare your return please bring the
following items to the VITA sites:
• Last year’s Federal Income Tax Return (2024 income
tax returns)
• Social Security Cards for you, your spouse (if married),
and all dependents listed on the return
• Correct birth dates for all names listed on the return
• All W-2s for 2024, including spouses
• Form 1098 – Mortgage interest, property taxes
• Form 1099 – DIV, G, INT, MISC, NEC, K, Q, R, RRB,
SSA for 2024
• Bank account and routing numbers for direct deposit
of your refund (This is optional, but it gets your cash to
you fast)