Page 11 - Palm City Spotlight - August '19

Palm City Spotlight, Page 11

financial focUs

Business Owners: You Need employee’s compensation each year, up to a maximum of Which plan is right for you? The answer depends on
$5,600, regardless of whether the employee contributes.
several factors, such as whether you have any employees
Your Own Retirement Plan Contributions to your employees are tax-deductible. and how much money you can contribute each year. But all
• “Owner-only” 401(k) plan: If you have no employees the plans mentioned above are generally easy to establish,
By Bryce Buchanan, other than your spouse, you can establish an “owner-only” and the administrative costs are usually minimal. Most
Edward Jones 401(k) plan, which functions similarly to a 401(k) plan important, any one of them can help you build some of the
As a business owner, offered by a large employer. Between salary deferral and resources you’ll need to enjoy the retirement lifestyle you’ve
you can’t afford to ignore profit sharing, you can contribute up to $56,000, in pre-tax envisioned. To select an appropriate plan, you may want to
your competition. You dollars, to your owner-only 401(k), or $62,000 if you’re 50 or consult with your tax and financial advisors.
can’t afford to miss out on older. Like a SEP-IRA and SIMPLE IRA, a 401(k) provides In any case, don’t wait too long. Time goes by quickly, and
the trends affecting your the potential to accumulate tax-deferred earnings. However, when you reach that day when you’re a “former” business
industry. You can’t afford you could choose to open a Roth 401(k), which can be funded owner, you’ll want to be prepared.
to alienate customers. And with after-tax dollars. With a Roth 401(k), your earnings can This article was written by Edward Jones for use by your
here’s one more item to add grow tax-free, provided you’ve had your account at least five local Edward Jones Financial Advisor. Edward Jones, its
to the list: You can’t afford years and you don’t start taking withdrawals until you’re at employees and financial advisors are not estate planners
not to create a retirement least 59½. and cannot provide tax or legal advice.
plan for yourself.
Of course, you might think that, one day, you’ll simply
sell your business and live off the proceeds. But selling a volUnteer news
business isn’t always simple, and there’s no guarantee you’ll
receive enough to pay for a comfortable retirement – which
is why you should strongly consider creating a retirement The MAVEN Project Comes To resources, especially for psychiatry, which has been a struggle
plan now. for the clinic. MAVEN has made it possible for the clinic’s
Here are some of the most widely used plans: VIM Clinic providers to connect with psychiatrists in order to optimize
• SEP-IRA: You can contribute up to 25 percent of your their patient’s medication management. This allows the clinic
compensation – as much as $56,000 in 2019 – to a SEP-IRA. This year VIM Clinic has the pleasure of being a part of the to treat and prescribe in-house, with the help of a psychiatrist,
Your contributions are tax-deductible and your earnings grow pilot of the telehealth system, the MAVEN project (Medical without having to refer patients to external physicians.
tax-deferred until withdrawn. This plan offers you significant Alumni Volunteer Expert Network). The VIM Clinic in Stuart In the few short months MAVEN has been accessible,
flexibility in making contributions for yourself and your is one of four free clinics across the nation to be chosen, along the clinic’s primary care providers have already utilized it in
employees. Plus, as an employer, you can generally deduct, with Coachella Valley VIM in Indio, Calif., VIM in Wilkes- several challenging cases and have found it to be a valuable
as business expenses, any contributions you make on behalf Barre, Pa., and Barrier Islands Free Medical Clinic in Johns resource. VIM Clinic is thrilled to be a part of this pilot
of your plan participants. Island, S.C. The project will take place over the course of a year program and plans to continue employing it in their practice
• SIMPLE IRA: In 2019, you can put in up to $13,000 – or and is being sponsored by Becton, Dickenson and Company this year to enhance the care of the medically underserved of
$16,000 if you’re 50 or older — to a SIMPLE IRA. As is the (BD) and Athenahealth. Martin County.
case with the SEP-IRA, your earnings grow tax-deferred. You The project is aimed at giving underserved community About Volunteers In Medicine Clinic
can match your employees’ contributions dollar for dollar, clinics access to additional care by connecting them to Volunteers in Medicine Clinic is a nonprofit healthcare
up to 3 percent of compensation. If you work for yourself, volunteer physicians through the use of telehealth technology. safety net for eligible uninsured Martin County residents,
you can combine employee and employer contributions, With this technology, VIM providers are now able to reach out serving the community since 1995. Its staff of almost 100
so if you use the 3 percent matching rule, and you earn to other experienced physicians for specialized care involving volunteer medical and lay professionals, 11 employees
enough to fully match employee contributions, you can put complex cases. along with community partners provide comprehensive and
in up to $26,000 per year (or $32,000 if you’re 50 or older). Although VIM Clinic has a diverse pool of volunteer compassionate medical care at no charge. To learn more, visit
Alternatively, you could contribute 2 percent of each eligible specialists, MAVEN has gained the clinic access to all new www.vimclinic.net or call (772) 463-4128.

Pet Matters

For The Love Of Animals

by Pat Deshong, President of Furry Friends Adoption,
Clinic & Ranch
“For the Love of Animals” features real
stories happening at Furry Friends in
Jupiter. We are The Humane Society of
Greater Jupiter/Tequesta and the only no-
kill shelter open to the public in northern Thank you to our sponsors! And a special thank you to CBS
Palm Beach County. We’ve been rescuing, Channel 12 for their commitment to our special Telethon event!
rehabilitating, and re-homing the homeless
animals in our community for more than 30 Axe is a Dolly’s Dream Dog and his adoption fee is already paid!
years. Our not for profit 501c3 organization Plus he goes home with you with lots of goodies. Please come see
consists of our Jupiter based Adoption Center, Veterinary Clinic Axe at our Jupiter Adoption Center.
(open to the public), Thrift Boutique, and Palm City Ranch.

President Pat Deshong with CBS Channel 12 Reporter
Hall of Famers Willie Roaf & Kristen Chapman & volunteers
Joe Namath and Mayor Todd Wodraska
Furry Friends’ new
Adopti on Cent e r &
As they say, every picture tells a story. Here is little Jack telling Veterinary Clinic, located
CBS News Anchorman Jim Grimes about his lemonade stand which at 100 Capital Street in the
raised $47 dollars for Furry Friends. Bert and Sallie Korman pledging Jupiter Commerce Park, will
a $100,000 matching donation in memory of their late daughter-in-law. be completed in September
Starbucks on W. Indiantown Road delivering goodies and much needed 2019. We have work to do
caffeine to Furry Friends’ clinic in the wee hours of the morning. and money to raise, but with Photo courtesy of Samantha Farmer
These are just three of the countless examples of how the your help, we can realize
community galvanized to support the Capital Campaign for Furry the dream that’s been the we save would be uncertain. Thank you for donating and helping
Friends’ new Jupiter-based Adoption Center & Veterinary Clinic on hope of our organization for us continue our animal saving mission.
Friday, July 19th. A telethon, hosted all day by CBS News Channel decades. Ways to donate (tax ID #59-2111273):
12, raised more than $237,000 for our vision, our future, our soon- If you would like to be a 1. Mail a check made payable to Furry Friends to 401 Maplewood
to-be reality for the many dogs and cats who find themselves at our part of our new beginning, Drive, Ste. 8, Jupiter, FL 33458.
doors and in need of our rescue, rehabilitation, and re-homing help. please contact us. Like each 2. Visit www.furryfriendsadoption.org
Historically, July 19th was one of our greatest days! As President nail, block, & tile, every 3. Call us with your credit card information at 561.747.5311 ext. 1
of Furry Friends, words cannot express how proud we are to be your donation, no matter how “Your donation
hometown shelter. And how excited we are to know that our new small, will help make our dream come true… All for the Love of creates th e
home, located in the Jupiter Commerce Park, is nearing completion. Animals. possibilities to
Once built, it will create bright possibilities, not only for the dogs Please visit www.furryfriendsadoption.org or call make miracles
and cats in our care, but for the entire community. It will truly be a 561.747.5311 ext. 1 for more information. Ask for Pat Deshong, happen for our
destination point for everyone to come & be a part of the promise President, or Curry Krasulak, Director of Development. Furry Friends”
we give to our animals each and every day. The promise of “happily This is what Furry Friends is all about…rescuing, rehabilitating,
ever after” for every single one… no matter how long it takes. and giving homeless companion animals their best future… no
From the bottom of our hearts, we are so thankful to the sponsors, matter how long it takes to find it. We have many wonderful
donors, volunteers, staff members, businesses and supporters who dogs and cats at our Jupiter Adoption Center and Palm City
make up our vast cheerleading team. With you, we are making the Ranch. We invite you to come visit us! Our website is www.
possibilities for miracles a reality. furryfriendsadoption.org.
Blessings to you for your support and faith in us… all for the Furry Friends depends on the generous support from donors
LOVE of animals! like you. Without Furry Friends, the future of the many animals
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