Page 9 - Boca Club News - December '19

Boca Club News, Page 9
World’s Best Women Golfers Set for Inaugural

LPGA Tournament in Boca Raton January 20th-26th

A brand-new official LPGA Tour event in Boca Raton valid any one day, Tuesday, January 21st through Sunday, more information or to purchase tickets, visit GainbridgeLPGA.
featuring 108 of the world’s best female golfers will take January 26th. Weekly tickets are $30 and are valid all week, com or email Crystal Deel at crystal.deel@octagon.com.
place January 20th-26th at Boca Rio Golf Club. Tickets for Tuesday, January 21st through Sunday, January 26th. Children, Volunteer registration is currently open for the Inaugural
the Gainbridge LPGA are now available for purchase. The 17 and under are admitted free with a ticketed adult. All active 2020 Gainbridge LPGA at Boca Rio. The event is seeking local
event will open to the public on Tuesday, January 21st, with and retired military personnel and their immediate families will volunteers for various committees including transportation,
the official tournament rounds being played January 23rd-26th. receive complimentary admission with a valid Military ID. marshals, and standard bearers. While some committees
“Providing an affordable event experience for families and A limited number of Gainbridge Club tickets are available require golf knowledge, there are also opportunities that require
the entire community to access is important for our partners during tournament play, Thursday, January 23rd through no golf knowledge or experience. Volunteers are recommended
at Gainbridge,” said Lesley Baker, Executive Director of the Sunday, January 26th. Each hospitality ticket includes to register as early as possible, as opportunities are on a first
Gainbridge LPGA at Boca Rio. “The ladies of the LPGA upgraded food and beverage, as well as access to a viewing come first served basis. Registration can be completed at
Tour are world class athletes and so impressive to watch in deck overlooking 18 green. Tickets are $150 each and are GainbridgeLPGA.com.
competition. We are excited to rally the community to come valid any one day, Thursday through Sunday. Children ages About the LPGA: The LPGA is the world’s leading
out and see their talent first-hand.” 12 and under will receive free admission when accompanied professional golf organization for women. Founded in 1950
Tickets are available online at GainbridgeLPGA.com for by a ticketed adult. and headquartered in Daytona Beach, Fla., the association
the inaugural event. Tournament officials expect to make additional celebrates a diverse and storied membership with more
General Admission Tickets: Daily tickets are $15 and are announcements about tournament week programming. For than 2,300 members representing more than 30 countries.
With a vision to inspire, empower, educate and entertain
by showcasing the very best of women’s golf, LPGA Tour
Professionals compete across the globe, while the Symetra
Tour, the official development and qualifying tour of the
LPGA, consistently produces a pipeline of talent ready for the
world stage. Learn more at LPGA.com.
Tax Planning for Income Raymond James Financial Services, Inc. Aces & Knaves,

What is tax planning for income? Arthur Rottenstein
Tax planning for income usually involves strategies Registered Securities Principal a Film about
for minimizing your taxable income. In particular, 561-241-6616
the timing and the method by which your income is ArthurRottenstein@
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with an understanding of the various types of income. bocaratonfinancialplanner.com Bridge to Screen
Next, you’ll want to consider tools for creating tax-
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Why is it important for you to understand the 561-241-6616
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As a general rule, you are required to pay tax on your raymondjames.com. December 29th
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know which items are included and excluded from the Boca Raton, FL 33431 “Bridge...the most intelligent card game the wit of man has
IRS’s definition of gross income. Additionally, income can so far devised.”
be taxed at different rates, depending on whether the income is ordinary or derived from the sale or exchange of ~ W. Somerset Maugham
certain classes of property held for certain minimum time periods. Because losses can sometimes be used to offset
income, it’s also important to understand the concept of active versus passive income. Aces & Knaves, a film that zooms in on the players, the
Why is it important to know how to generate tax-free income? scandals, and the intense competition inside the world of
Although income is usually taxable, there are a number of vehicles that can produce tax-free or nontaxable income. bridge will be screened on December 29th at 7 pm at the
You may be able to enjoy some portion of your income, tax free, by switching some of your investment money to these Mizner Park Cultural Center in Boca Raton. “No doubt the
vehicles. Vehicles to consider include Roth IRAs and tax-exempt bonds. best documentary on bridge ever made,” Michael Becker,
How can you shelter earned income from taxes? a member of the American Contract Bridge League Hall
of Fame said recently. Becker, along with fellow bridge
Sheltering your earned income involves employing one or more tools to generate losses, deductions or credits that will champion Gavin Wolpert, will join the film’s director Jackie
reduce the current federal tax burden on your earned income. Typically, your desired result is income deferral. Several
methods exist to shelter earned income from taxes, including traditional deductible IRAs and employer-sponsored Paré for a Q&A following the screening.
Aces & Knaves follows the emotional story of the
retirement plans. whistleblowers and code breakers who worked thousands
Why should you be aware of strategies to defer taxes? of hours to expose two pairs of world-class cheaters, one
There are several reasons why deferring the taxation of income is generally desirable. First, deferring taxes will provide from Italy and another from Israel. “Collusive cheating in
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you not only to defer some of your current taxable income, but also let your retirement savings grow tax-free until a Weinstein. “For our game it’s as bad as it gets.”
distribution is taken.
Aspiring ace Bill Gates, along with some of the best
As a general rule, when tax rates are stable, it’s wise for you to defer the recognition of as much income as possible players on the planet, share tales of exhilaration and defeat
to a later year and accelerate deductions. This will allow you to minimize your current income tax liability. As a in the film, which mixes vintage stills and old movie footage
consequence, you will be able to invest money that would otherwise have been used to pay income taxes, keeping with dramatic coverage of international tournaments. It is
that money working for you. When you eventually recognize the income, it’s possible that you’ll be in a lower tax aimed not only at bridge enthusiasts, but also at those who
bracket. have never picked up a hand. “Why?” asks director Paré.
What are some other tax-advantaged strategies? “Because bridge holds a mirror to the human spirit – at its
Many other tax-advantaged strategies exist. For instance, you should be aware of tax shelters and tools for creating best and as its worst. And like life, it’s all about the cards
passive income in order to take advantage of passive losses. Additional strategies that may help you reduce your you’re dealt. You have to make the best of them.”
overall income tax burden include taking advantage of the tax benefits of generating capital gains, investing in real Tickets for the December 29th screening are $20 and
estate, receiving annuitized payments, and engaging in year-end tax planning. are on sale now. They can be purchased online at http://
How can you shift income and tax to others? miznerparkculturalcenter.com or by phone at (844) 672-
Income shifting refers to dividing income among two or more taxpayers in a way that lowers overall taxes. Typically, 2849. More information about Aces & Knaves can be found
income is shifted from higher bracket taxpayers to lower ones. If you’re interested in income shifting, you should be on the film’s website at https://www.acesandknavesthefilm.
aware of a number of topics, including the kiddie tax, the tax treatment of below-market and interest-free loans, and com/.
the benefits of making gifts of income producing property and employing family members.
What about Social Security benefits?
If you’re an older taxpayer, you should probably be concerned with minimizing the taxation of your Social Security The Dog Whisperer
retirement benefits. Certain techniques exist to limit the taxation of such benefits, including filing your income tax
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Arthur Rottenstein is a Registered Securities Principal and Branch Manager with Raymond James Financial Services, Inc. in Boca Raton and are welcome!
founder of Portfoliorepair.com. He has been managing the financial affairs of a number of select families in South Florida since 1982. Please feel
free to call for an appointment at (561) 241-6616 or email him at arthur.rottenstein@raymondjames.com. Please feel free to visit his website Call BeTh
at bocaratonfinancialplanner.com.Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC. Investment Advisory
Services offered through Raymond James Financial Services Advisors, Inc. 954-817-8791

Joseph Carpenito is a financial advisor with Raymond James Financial Services, Inc. (member FINRA/SIPC) and is located in the company's Boca
Raton, Fla. branch. Carpenito joined Raymond James subsequent to receiving his bachelor’s degree in financial sciences from the University of
Central Florida. Most notably, Joseph regularly contributes as a financial columnist for Jim Cramer's TheStreet.com and has been featured on
additional financial media outlets such as: Kiplinger.com, USNews.com, GoBankingRates.com, DepositAccounts.com, Mic.com, and After55.com.