Page 4 - Jupiter West- June '23

Page 4, Jupiter West
Financial Focus

New Law May Offer Financial Previously, this penalty was 50 percent of the amount you were contributions. This credit is capped at $1,000 per employee
and phases out gradually over five years.
supposed to have taken but now it’s reduced to 25 percent.
Opportunities • New options for qualified charitable distributions – If • Military spouse tax incentive – If you have 100 or fewer
you’re 70½ or older, you can make a one-time qualified employees who earn at least $5,000 annually, you can earn a
By Sally Sima Stahl charitable distribution (QCD) of up to $50,000 to entities that tax credit of up to $500 for three years if you make military
Your own decisions and previously couldn’t receive these QCDs, including charitable spouses eligible for a retirement plan, such as a 401(k) or
actions typically determine remainder annuity trusts, charitable remainder unitrusts and SEP IRA. You can receive the credit for the year in which
your financial strategies. charitable gift annuities that meet certain criteria. Because the military spouse is hired, plus the next two taxable years.
But outside events can QCDs are typically excluded from your taxable income and These aren’t the only provisions in the SECURE 2.0
affect your choices, too. could satisfy some or all of your required RMDs, which are Act that may be relevant to you, and some parts of the new
And that may be the case otherwise taxable, these expanded opportunities may prove law go into effect in the future. You may want to contact
with the recent passage of beneficial from a tax standpoint. Consult with your tax advisor your financial and tax advisors to see just how you might
the SECURE 2.0 Act. to determine if and how QCDs make sense for your situation. ultimately be affected by this legislation, and how you could
This piece of legislation If you’re still working … take advantage of it.
covers many areas. But here • Roth contributions to retirement plans – Starting this year, This article was written by Edward Jones for use by
are some changes that may be if you participate in a 401(k) or similar plan, you can take your your local Edward Jones Financial Advisor, Edward Jones,
of interest to you, depending on your situation: employer’s matching and other contributions on a Roth basis. Member SIPC.
If you’re a retiree … While these contributions will count as taxable income, they can Edward Jones is a licensed insurance producer in all states
• Higher age for RMDs – The age at which you must take ultimately be withdrawn, along with any earnings they generate, and Washington, D.C., through Edward D. Jones & Co., L.P.,
withdrawals — known as required minimum distributions, or tax free, provided you meet certain conditions. and in California, New Mexico and Massachusetts through
RMDs — from your traditional IRA and 401(k) has increased If you’re a business owner … Edward Jones Insurance Agency of California, L.L.C.;
from 72 to 73, effective this year. (If you turned 72 in 2022, but • Increased tax credit for starting a retirement plan – If Edward Jones Insurance Agency of New Mexico, L.L.C.; and
still haven’t taken your first RMD, you will need to do so this you have 50 or fewer employees, you can now claim a startup Edward Jones Insurance Agency of Massachusetts, L.L.C.
year.) And in 2033, the RMD age will increase again, to 75. You credit covering 100 percent — up from 50 percent — of the Edward Jones, its employees and financial advisors
don’t have to wait until these ages before taking withdrawals, administrative costs of opening a 401(k) plan, up to $5,000 for cannot provide tax advice. You should consult your qualified
but the new age limits may affect your withdrawal decisions. each of the first three years of the plan. tax advisor regarding your situation.
• Lower penalties for missed RMDs – If you don’t take at • Employer contribution credit – You may now be able to Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
least the RMD for a given year, you could face tax penalties. get a tax credit based on employee matching or profit-sharing 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
Dysgraphia In Children Explained

By Jim Forgan, Ph.D., hand, other children have difficulty quickly copying from the being lazy but rather him coping with dysgraphia. After an
School Psychologist board to their paper, and some are poor spellers. evaluation and diagnosis with me, the parent got the school
Dysgraphia is a type of Furthermore, many children with dysgraphia often have to give her son a 504 Plan to give teachers understanding
writing learning disability great thoughts and can speak more eloquently than they write. and her son accommodations.
that is recognized by Florida For example, a recent client’s child had dysgraphia. The boy’s The causes of dysgraphia may include weak finger control,
public schools. When a child second-grade schoolteacher required weekly homework to fine motor difficulty, seeing information one way but writing
has dysgraphia writing can write each spelling word in a sentence. Dysgraphia impeded it a different way, rapid recall from memory difficulty, slow
be a mentally overwhelming, his handwriting and ability to put thoughts onto paper processing speed, working memory weakness or a combination
physically exhausting, and so rather than elaborate sentences, he wrote very simple of factors. Treatment for dysgraphia can include occupational
time consuming. It might be sentences. For the word, “supper” he wrote, “I eat supper.” therapy, working with an educational therapist, home-based
dysgraphia if your child does This simple sentence pattern repeated for words such as exercises to increase motor control, keyboarding, and learning
not enjoy writing and has a “color” and “inside” with sentences such as “I like to color.” writing strategies.
negative attitude toward writing. Children with dysgraphia are and “I go inside.” Call to discuss your child as we test students ages 5.5
not all the same and dysgraphia presents in various ways. Some Although the boy correctly used the spelling word, the through college for dyslexia, dysgraphia, ADHD, depression,
children with dysgraphia have messy looking handwriting, teacher did not like the simplicity of his sentences and noted anxiety, and other processing disorders. Visit JimForgan.com
others have an awkward pencil grasp which fatigues their this in large red ink on his paper. This was not the child or call (561) 625-4125.

Bachelor Auction
from page 1

packages. The evening
had some special guests
Including Jupiter local,
Tyler Cameron from
The Bachelorette as
well as some inspiring
honored heroes, two
local children battling
leukemia.
Photos by Julia
Duresky of Photo
Concierge
Toni McKellip, Ava McKellip, Christy Picado
and honored hero Nathan Victor Concepcion Anthony and Valerie Maslow Tyler Cameron

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