Be careful when naming beneficiaries

            As we enter the annual season of giving, you might be thinking of charities you wish to support. But you also might be wondering how to gain some tax benefits from your gifts.            It used to be pretty straightforward: You wrote a check to a charity and then deducted the amount of the gift, within limits, from your taxes. But a few years ago, as part of tax law changes, the standard deduction was raised significantly, so fewer people were able to itemize deductions. Consequently, there was less financial incentive to make charitable gifts.             Of course, this didn't entirely stop people from making them. And it's still possible to gain some tax advantages, too.             Here are a few tax-smart charitable giving strategies:            Bunch your charitable gifts into one year. If you combine a few years' worth of charitable gifts in a single year, you could surpass the standard deduction amount and then itemize deductions for that year. In the years following, you could revert to taking the standard deduction.             Make qualified charitable distributions. Once you turn 73 (or 75 if you were born in 1960 or later), you must start taking withdrawals from your traditional or inherited IRA.  These withdrawals technically called required minimum distributions, or RMDs are taxable at your personal income tax rate, so, if the amounts are large enough, they could push you into a higher tax bracket or cause you to pay larger Medicare premiums.             But if you donate these RMDs directly to a qualified charity, you can avoid the taxes.  And because these donations, known as qualified charitable distributions (QCDs), will reduce the balance on your IRA, you may have lower RMDs in the future.             Of course, if you need some or all your RMDs to help sustain yourself in retirement, the use of QCDs may not be of interest to you. Keep in mind, though, that you can start making QCDs at 70, even before you must start taking RMDs. QCDs up to $105,000 can be taken in 2024.              Consider a donor-advised fund. If youre interested in a long-term charitable giving arrangement, you might want to consider establishing a donor-advised fund. You can put many types of assets into this fund, and then direct it to make grants periodically to the charities youve chosen. You get an immediate tax deduction for your contribution, and, if you donate appreciated assets, such as stocks, you'll avoid the capital gains taxes you would have incurred if you simply sold the stocks and then gave the money to the charities. One note of caution, though your contributions to a donor-advised fund are irrevocable, and once the assets are in the fund, you cant use them for anything except charitable giving.            These strategies QCDs and donor-advised funds in particular can be complex and involve several issues of which you should be aware. So, you should consult your tax advisor before taking action. But if any of these techniques are appropriate for your situation, give them some thought because helping a charitable group and getting tax benefits for doing so is a win for everyone.Chad Choate III, AAMS 828 3rd Avenue West Bradenton, FL 34205 941-462-2445 chad.chaote@edwardjones.com This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.  

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Decluttering and organizing your space can be a daunting task, especially when faced with years of accumulated belongings or complex situations like hoarding. At Bluestar, we specialize in turning chaos into order, creating functional and beautifully organized spaces that bring peace of mind. Whether you need help with a single room, an entire home, or even an office, our team is here to provide compassionate and professional assistance tailored to your needs.Why Choose Bluestar?We understand that decluttering is more than just tidying up; its about reclaiming your space and creating an environment that supports your lifestyle. Our team approaches each project with sensitivity, respect, and expertise, ensuring that you feel comfortable and in control throughout the process.Our Organizing & Decluttering Process1. Free ConsultationWe begin with a complimentary consultation to assess your space and understand your goals. This helps us tailor a personalized plan that meets your specific needs and expectations.2. Sorting & CategorizingOur team works alongside you to sort through your belongings, dividing them into categories such as keep, donate, sell, or discard. We respect your decisions and handle all items with care.3. Organizing Your SpaceOnce the clutter is cleared, we create customized organizational systems designed to maximize functionality and maintain order. From closets and kitchens to offices and garages, every space is transformed into a well-organized area.4. Handling Special SituationsFor more challenging situations, such as hoarding or major life transitions, we offer extra support and guidance. Our experienced team approaches these projects with empathy and discretion, ensuring a positive and productive experience.5. Donation and Disposal AssistanceWe coordinate the removal of unwanted items, whether through donation, recycling, or disposal. Our goal is to make the process as seamless and stress-free as possible.6. Follow-Up SupportTo help you maintain your newly organized space, we offer tips and follow-up services as needed. Our goal is to provide lasting solutions that simplify your life.Who Can Benefit from Our Services?Seniors downsizing or transitioning to a new home.Busy professionals seeking to streamline their office or living space.Families looking to create order in a shared household.Individuals dealing with a lifetime of accumulated belongings.Anyone facing challenging circumstances, such as hoarding or a recent loss.The Benefits of DeclutteringEnhanced Productivity: A well-organized space reduces distractions and increases focus.Reduced Stress: Clear spaces create a sense of calm and control.Improved Safety: Eliminating clutter reduces the risk of accidents and injuries.Easier Transitions: Decluttering simplifies moves, downsizing, or estate management.Let Bluestar Transform Your SpaceBluestars professional organizing and decluttering services are designed to make your life easier, your space more functional, and your home more inviting. Whether youre looking to tackle one room or an entire property, our team is ready to help.Contact Us TodayTake the first step toward a clutter-free and organized space. Schedule your free consultation with Bluestar and discover how we can transform your home, office, or life.