Page 8 - Juoiter West - November '22
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Page 8, Jupiter West
      Financial Focus

      What Should You Know                                 • Indirect rollover – If you take an indirect rollover,   as a direct rollover, in which the administrator of your old
                                                                                                           retirement plan will send you a check made payable to the
                                                         also known as a 60-day rollover, the assets from your
      About IRA Rollovers?                               existing IRA will be liquidated and the custodian or plan   custodian of your IRA. No taxes will be withheld, but you
                                                         sponsor will send you a check or deposit the funds directly   need to get the funds transferred within 60 days to avoid any
      By Sally Sima Stahl                                into your bank or brokerage account. This payment may   potential tax issues.
        If you’ve been contributing                      be subject to withholding for federal taxes, and possibly     You spend years contributing to your IRA and 401(k)
      to an IRA, you’ve chosen a                         state taxes, unless you opt out of withholding. You have   — and for good reason. So, when it’s time to move that
      great way to save and invest                       60 calendar days from the time the funds were withdrawn   money, be careful and consider getting help from your
      for retirement. All  IRAs                          to deposit the money, including any amount withheld,   financial and tax professionals. These funds can play a big
      have potential tax benefits                        into a new IRA. If you miss this 60-day deadline, the   role in your retirement income, so manage them wisely.
      and a range of investment                          withdrawal may be taxable at your personal income tax     This article was written by Edward Jones for use by
      possibilities, but not all IRA                     rate, and it could also be subject to an early withdrawal   your local Edward Jones Financial Advisor, Edward
      providers offer the same                           penalty if you’re younger than 59½.               Jones, Member SIPC.
      features. So, if you decide                          Given the immediate withholding and the possibility of     Edward Jones is a licensed insurance producer in
      that your current IRA provider                     further taxes if you don’t move the money into a new IRA   all  states  and  Washington,  D.C.,  through  Edward  D.
      is charging higher fees than                       before the 60 days are up, you’ve got much to consider   Jones & Co., L.P., and in California, New Mexico and
      you’d like, or perhaps doesn’t offer as many investment choices   before initiating an indirect rollover. Consequently,   Massachusetts through Edward Jones Insurance Agency
      as you want, then you might choose to move your IRA assets to   you  should  consult  with  a  financial  advisor  and  tax   of California, L.L.C.; Edward Jones Insurance Agency
      another provider. How should you go about making this switch?   professional before you make this type of move.   of New Mexico, L.L.C.; and Edward Jones Insurance
        Here are some options to consider:                 In addition to a rollover from an existing IRA, you may   Agency of Massachusetts, L.L.C.
        • Trustee-to-trustee transfer or direct rollover – You can   someday want to move the money from your 401(k) or     Edward Jones, its employees and financial advisors
      ask the financial institution holding your IRA to move the   similar employer-sponsored retirement plan to an IRA. This   cannot provide tax advice. You should consult your
      money directly to another IRA. No taxes will be withheld   can occur when you retire or change jobs, although if you do   qualified tax advisor regarding your situation.
      from the amount transferred at the time of the transfer. This   take on another job, you might have the options of leaving     Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
      method is generally hassle-free, but some IRA sponsors   your 401(k) with your former employer or rolling it over into   1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
      will still only mail the check to your address of record,   your new employer’s plan. However, if you do want to move
      so you’d have to forward it to your new IRA.       your 401(k) funds into an IRA, you can make what’s known
      Commissioner’s Update

      Budget Brief                                        If you notice an increase in the property taxes on your     ○ $10M for affordable housing development
                                                        bill, please note this is due to higher assessed values of   • Infrastructure
      By County Commissioner                            real estate, not an increase in the tax rate. Of the 650,420     ○ $59M in capital improvements
      Maria Marino                                      parcels of real property in Palm Beach County as of 2022,     ○ $73.3M for Palm Tran vehicles and operations
        For the first time in                           total  market  value  is  $404.3  billion,  and  total  taxable   • Public Safety
      11 years, the County                              value is $255.3 billion.                             ○ $743.3M for the Sheriff
      Commission approved a                               The county’s total gross budget is $6.7 billion, of which     ○ $10.3M toward Animal Care & Control
      reduction in the countywide                       $1.9 billion is in the General Fund. Current property taxes     ○ $2.7M for Emergency Management
      millage rate for fiscal                           fund  24.9  percent  of  the  gross  budget.  In  addition  to     ○ $3.5M for Victims Services
      year 2023 – the tax rate                          property taxes, revenues include the fund balance – the   • Substance Use and Behavior Disorders
      per  $1,000  of  your  real                       excess of fund assets over liabilities; intergovernmental     ○ $1M toward the addiction stabilization center
      property’s value – from                           revenues in the form of grants, entitlements, shared     ○ $1.5M for recovery support
      4.7815 down to 4.715 mills.                       revenues, or payments in lieu of taxes; licenses, permits     ○ $6.3M for financially assisted partner agencies
      At the new millage rate, a                        and fees; charges for services; and, inter-fund transfers.    Expenditures also include an increase in reserves from
      homesteaded property at the median value of $365,000     The county continuously explores innovative means   $189M in FY 2022 to $261.9M in FY 2023.
      would  save  approximately  $21.68  per  year. While  the   to use taxpayer dollars efficiently and leverage the costs     Beginning in March, county departments were required
      savings is not huge, it was important to give people a   of providing programs and services through grants and   to submit their budgets with service levels at status quo,
      break as costs all across the board for goods and services   partnerships. In formulating the FY2023 budget, the   allowing  additional  requests  only  for  critical  needs.
      have  escalated.  The  millage  reduction  was  possible   Board prioritized six strategies. These are the highlights:  Review continues through April and May, culminating
      without  affecting  the  delivery  of  high  quality  county   • Economic Development                in a budget workshop in June. The millage rate is set at a
      services to the public.                             ○ $4.5M in business incentives                   public meeting in July, and two separate public hearings
        Additionally, Palm Beach County received revenue   • Environmental Protection                      occur in September, where members of the public can
      replacement dollars through the Federal American Rescue     ○ $4M for natural areas management       participate in the process.
      Plan Act to cover general government expenses and offset     ○ $750,000 for the manatee protection program    Your comments and questions are welcome, and if I
      the impact of the pandemic on our community. This   • Housing and Homeless                           can assist you please contact me at (561) 355-2201 or by
      frees up ad valorem funds to pay for projects previously     ○ $11.5M for homeless resource centers  email at
      approved by the Board.                              ○ $2.4M for a non-congregate shelter in the Glades
      Language Based Learning Disabilities

      By Jim Forgan, Ph.D.,                              thoughts into writing, forgetting small sight words, knowing     Most individuals with a language-based learning disability
      School Psychologist                                what to say but difficulty getting it out, difficulty getting to   need instruction that is specialized, explicit, structured, and
        Your child’s smart but                           the point when speaking, and poor test performance despite   multisensory, as well as ongoing, guided practice aimed at
      has unexpected struggles.                          having studied.                                   helping their specific areas of weakness. School is often a
      Perhaps  it  worries  you  so                        Some students with language-based learning disabilities   struggle for kids with a language-based learning disability but
      much that you awake during                         are diagnosed young while other children perform well in   once you get them through school, these smart kids inherit a
      the night thinking about your                      early elementary school and are diagnosed later when the   world of opportunities.
      child’s  difficulties. There                       demands of language in middle or high school increase.     If you need help with your child call as we test children ages
      is a subset of children who                        In addition, adolescents with a language-based learning   5.5 through college for language based learning disabilities,
      have language-based learning                       disability have difficulty managing the heavy reading load   dyslexia, ADHD, depression, anxiety, and other processing
      disabilities which interfere                       from multiple classes.                            disorders. Visit or call (561) 625-4125.
      with  learning.  Language
      infiltrates all areas of life from our thinking to our talking.
      When a child has difficulty processing language, they often
      struggle in reading, spelling, writing, and with math word
      problems since these areas require language.
        A language-based learning disability refers to a spectrum
      of difficulties related to the understanding and use of spoken
      and written language. A language-based learning disability
      is often the root cause of a child’s academic struggles since
      weak language skills impede comprehension, oral and written
      communication. It can also interfere with your child’s attention,
      memory, social skills, perseverance, and self-regulation. A
      child can have a general language-based learning disability
      or a specific type such as dyslexia or dysgraphia.
        Warning signs of a language-based learning disability in                                                       747-PALM
      young children include: a history of a speech and language
      impairment (remediated or ongoing), poor phonics, slow                                                                 747-7256
      choppy reading, poor reading comprehension, difficulty
      following multi-step verbal directions, difficulty putting
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