Page 18 THE MALDEN ADVOCATE–Friday, August 30, 2024 CLASSIFIED ADVERTISING Advocate Call now! 617-387-2200 advertise on the web at www.advocatenews.net BHRC | FROM PAGE 16 recovery and treatment programs in communities disproportionately impacted by the opioid epidemic.” “These grants ensure that opioid settlement funds are invested in community organizations that are working at the grassroots level but face challenges in competing for grant funding,” said Undersecretary of Health Kiame Mahaniah. “We’re hopeful that these diverse organizations will now have the ability to build on their substance use disorder programming while centering the voices of the community they know so well and who have been directly impacted by the overdose crisis.” MBTA’S INCOME-ELIGIBLE REDUCED FARE PROGRAM BEGINS ON SEPTEMBER 4 - The MBTA announced that expanded access to reduced fares for income-eligible riders begins on Wednesday, September 4, 2024. This new program provides riders who are aged 18-64 and have low income, with reduced one-way fares of approximately 50 percent off on all travel inclujding MBTA buses, subways, commuter rail and The RIDE. The online application is available at mbta.com/income-eligible The application can be completed in English, Spanish, Portuguese, Simplifi ed Chinese, Traditional Chinese, Haitian-Creole or Vietnamese. The launch also includes the availability of in-person support at fi ve locations around the MBTA service area. For more information, call617-222-3200. QUOTABLE QUOTES “Our audit found that, under priINHERITED IRA REQUIRED MINIMUM DISTRIBUTIONS T he IRS recently fi nalized its regulations on inherited IRA Required Minimum Distributions (RMDs) in July of this year. This area of the tax law has become more and more complicated. The Secure Act involved major tax legislation relating to RMDs when dealing with beneficiaries other than spouses, minor children, benefi ciaries less than 10 years younger than the decedent IRA owner and disabled or chronically ill benefi ciaries, who are referred to as eligible benefi ciaries. The other group of benefi ciaries is referred to as ineligible designated benefi ciaries (i.e. the non-spouse, et al benefi ciaries). An example would be your child. Under the old rule, a child could stretch out the RMDs over his or her life expectancy. This would allow for great tax efficiency as the distributions could be stretched out over 20, 30 or even 40 years. Under the Secure Act, your child is required to deplete the IRA account within 10 years following the year of your death. This is a massive change in tax law. The new regulations now make it clear that if you reached your Required Beginning Date (RBD) at the time of your death, meaning you had already reached the age where you are required to begin taking your RMDs, your child would not only be required to deplete the account by the end of the 10th year following your death, your child would also have to begin taking annual distributions from this IRA account in years 1 through 9, with RMD calculations based upon his or her own life expectancy. This was unclear in the IRS’ previously proposed regulations. In the event you had not reached your RBD and were not required to begin taking your RMDs, your child would not have to take any distributions during years 1 through 9. However, the entire IRA account would have to be completely depleted by the end of the 10th year following the year of your death. It should be noted, that depending on one’s tax position, it may very well be benefi cial to actually withdraw funds from the IRA account ratably over that 10 year period to reduce Uncle Sam’s tax bite allowing you to remain in a lower federal tax bracket. The IRS has waived RMDs with respect to inherited IRA’s for calendar years 2021, 2022, 2023 and 2024. However, the RMDs must commence in calendar year 2025. If you inherited an IRA from someone who died in 2020, the account would still have to be depleted by the end of 2030, notwithstanding the fact that RMDs are not required to be taken until 2025. This rule would not apply to surviving spouses and other eligible benefi ciaries. These rules are complicated to say the least. There are diff erent rules applying to estates and conduit Trusts that have been named benefi ciaries of IRA accounts. Joseph D. Cataldo is an estate planning/elder law attorney, Certifi ed Public Accountant, Certifi ed Financial Planner, AICPA Personal Financial Specialist and holds a master’s degree in taxation. or leadership, the Convention Center cherry-picked when it was convenient or not convenient to follow public records law, Chapter 30B, alongside its own policies and procedures with regard to state procurement and contracting. Deeply troubling is also the fact that prior leadership violated the law in executing a $1.2 million non-disclosure agreement – concealing allegations of racial discrimination.” ---State Auditor DiZoglio upon the release of her audit of the Massachusetts Convention Center Authority. “Absenteeism is really a manifestation of an unmet need. Schools off er counseling, extracurricular activities, meals and the chance to learn with MUSINGS | FROM PAGE 6 He told me (with a wink and a smile), “all his buds were playing for 2nd!” The great Paul Leahy at the Malden Evening News coined the nickname “The Alphabet Athlete” during Timmy’s senior year because he earned the most Varsity letters by an M.H.S. athlete ever at the time (11). The never-at-a-loss-forwords Timmy Carey concluded, “all in all, Pistol, life is really good these days. I’m not bluffi ng my way on the Celt’s parquet any longer, and I’m happy I ain’t!” Postscript 1: A quick email to Dan Shaughnessy and the esand from students’ peers. If students aren’t there, they can’t benefi t from these opportunities and are missing out on so much more than their education.” ---Massachusetts Education Secretary Patrick Tutwiler announcing the Healy administration’s“Your Presence is Powerful” campaign as part of its continued eff orts to reduce chronic absenteeism and support students getting back into the classroom where they have access to a variety of supports, including universal free school meals and mental health services. “Yes, a median sale price of $650,000 was a new all-time high for the month of July, and month after month prices are setting new records, but price gains are smaller than they could be. Interest rates are more than double where they were two years ago, and I’m certain prices would be even higher without those changes.” ---Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group announcing the median single-family sale price in the Bay State rose to $650,000 – an increase of 6.6 percent from the $610,000 price tag in July 2023. HOW LONG WAS LAST WEEK’S SESSION? Beacon Hill Roll Call tracks the length of time that the House and Senate were in session each week. Many legislators say that legislative sessions are only one aspect of the Legislature’s job and that a lot of important work is done outside of the House and Senate chambers. They note that their jobs timable and legendary longtime sports scribe from the best sports page in the country – The Boston Sunday Globe Sports section – got right back to me: “Quite a story by Tim. I checked and can’t fi nd any story or notes about it the day after Globe. Sounds true enough to me. I was always early and used to go out and shoot when the gym was empty. All best, Dan.” Postscript 2: One more for the road...shortly after this epic adventure Timmy and one of his besties, Tommy Ruddock, jump in a car and road-trip nonstop to Terre Haute, Indiana. Sixteen - LEGAL NOTICE - City of Malden Massachusetts Board of Appeal 215 Pleasant Street Malden, Massachusetts 02148 Telephone 781-397-7000 x2104 MALDEN BOARD OF APPEAL PUBLIC HEARING The Malden Board of Appeal will hold a public hearing on Wednesday, September 18, 2024, 6:30 pm Eastern Time (US and Canada) at Malden City Hall, 215 Pleasant St, Room #106 Herbert L Jackson Council Chambers, Malden, MA on Petition 24-009 by Sheperd Doeleman and Elissa Weitzman seeking a variance under Code of the City of Malden as amended – Title 12.16.060 Table of Intensity Regulations: Specifically: Violation of Front yard and Rear yard setbacks as per Plans Res-062872-2023 at the property known as and numbered 46 Sprague St., Malden, MA and also known by City Assessor’s Parcel ID #074-261-113 Additional information, Petition & plans available for public review in the Office of Inspectional Services, 215 Pleasant St., 3rd floor, Malden, MA or online at www.cityofmalden.org or https://maldenma-energovweb.tylerhost.net/apps/SelfService#/home Nathaniel Cramer, Chair August 23, 30, 2024 also involve committee work, research, constituent work and other matters that are important to their districts. Critics say that the Legislature does not meet regularly or long enough to debate and vote in public view on the thousands of pieces of legislation that have been fi led. They note that the infrequency and brief length of sessions are misguided and lead to irresponsible late-night sessions and a mad rush to act on dozens of bills in the days immediately preceding the end of an annual session. During the week of August 19-23. the House met for a total of 30 minutes and the Senate met for a total of 15 minutes. Mon. August 19 No House session No Senate session Tues.August 20 House11:01 a.m. to 11:10 a.m. Senate 11:30 a.m. to 11:34 a.m. Wed. August 21 No House session No Senate session Thurs. August 22 House11:00 a.m. to 11:21a.m. Senate 11:12 a.m. to 11:23a.m. Fri. August 23 No House session No Senate session Bob Katzen welcomes feedback at bob@beaconhillrollcall.com Bob founded Beacon Hill Roll Call in 1975 and was inducted into the New England Newspaper and Press Association (NENPA) Hall of Fame in 2019 hours later they reach their destination: “Larry Bird’s Boston Garden Restaurant.” Next on the hit parade, Larry Bird’s residence in French Lick. They arrive, scale LB’s fence and live out the dream of thousands of other youngsters throughout New England, shooting hoops on Larry Bird’s backyard court all afternoon. Pictures will become available once they are located. True story. —Peter is a longtime Malden resident and a regular contributor to The Malden Advocate and can be reached at PeteL39@aol.com for comments, compliments or criticisms.
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