Page 12 THE REVERE ADVOCATE – FRIDAY, DECEMBER 22, 2023 ~ RHS PATRIOTS SPORTS ROUNDUP ~ By Dom Nicastro Revere girls track team tops Somerville Revere topped Somerville, 5144, in Greater Boston League girls track action at the Reggie Lewis Center in Boston thanks to a meet-clinching victory from the 4x200 relay team. Ashley Cabrera Rodriguez, Giselle Salvador, Danni Hope Randall and Gemma Stamatopoulos got the victory in that relay, helping propel the Patriots to the leaguemeet victory. Revere’s Liv Yuong scored 13 points as the top scorer of the meet (fi rst in high jump, fi rst in hurdles, second in long jump). “Liv has been performing super well this season already,” Revere girls track coach Racquel MacDonald-Ciambelli said. Revere’s Gemma Stamatopoulos had a PR in the 600-meter, only fi ve seconds away from the state-qualifying time. Revere got a huge sweep from its shot-putters for nine points – Ashley Chandler (26-5.5), Francoise Kodjo (26-3.25) and Angelina Montoya (20-8.75). Ashley Cabrera Rodriguez had a lifetime PR in the 55-meter dash (8.01) for the Patriots. “It was defi nitely a new format and a bit hectic having a dual meet at Reggie Lewis, but the girls adapted super well and brought great energy,” MacDonald-Ciambelli said. “They set the standard for an exciting season ahead that I know will be fi lled with tons of PRs and state qualifi ers.” Revere boys’ hoops team gets in the win column The Revere High School boys’ basketball team got its fi rst win of the season after opening up its campaign with two straight SPORTS | SEE Page 14 BBB shares your guide to giving end-of-year tips to service professionals T he end of the year is a time to show appreciation for those who provide necessary services and little luxuries in your daily life. But this year, the increased cost of goods and services means you may need to pay extra attention to your tipping budget. Even if you are limited in what you can give, there’s no need to feel uncomfortable. A little extra thoughtfulness can go a long way. Determining who to tip and how much to give can be confusing. To avoid extra holiday stress, BBB recommends the following tips to help you tip confi - dently while staying within your budget. Tips for holiday tipping Consider your budget. Begin planning your tips by looking over your holiday budget, or creating one, if you haven’t already. Tips aren’t obligatory, so if you don’t have the extra cash, consider other ways to show your gratitude. According to the Emily Post Institute, homemade gifts or a simple thank you note are perfectly acceptable ways to say “thank you” when funds are short. Start planning tips early. You don’t want to be scrambling through your purse to fi nd some extra cash when you see your regular delivery driver pull up. Once you set your tipping budget, make a list of who you plan to tip and how much. Do this as early as possible, keeping in mind that tipping before the holidays are offi cially here means the recipient will have extra cash for holiday spending. Tip with cash when possible. Cash is usually the best way to give a tip. It means the recipient has access to the funds right away and won’t have to pay any fees to use the money. That said, if you regularly pay someone via an app and want to tip that way, you can. Just make sure you include a brief note letting them know the extra money is a tip for their excellent service. Make the tip attractive. For a classic tip, The Wall Street Journal says crisp bills in an envelope that reads “Thank You” on the outside is ideal. You can even write a brief thank you note to express your gratitude when appropriate. Tip according to the depth of your relationship. Match your tip amount to the quality and quantity of work the person does for you. If you hire a babysitter occasionally, an appropriate tip might be the equivalent of one evening’s pay. On the other hand, if you have a live-in housekeeper, an entire week’s pay would be suitable. Know whom not to tip. Some professionals can’t accept tips because of ethical reasons, including doctors, lawyers, and government offi cials. Some companies don’t allow their employees to accept tips. Don’t be afraid to ask up front if a professional or company employee can accept tips if you aren’t sure. When appropriate, a gift is a good alternative. Tipping by profession Personal service providers. For hairdressers, massage therapists, or any other personalservice provider you regularly tip, consider upping your tip amount during the holiday season. If you usually tip 20%, make it 40%. Depending on your budget, you may decide to tip them the cost of an entire visit. The same goes for other service providers, like your dog walker or groomer. The equivalent of one service makes for a generous end-of-the-year tip. Nannies, babysitters and caregivers. A similar rule applies to tipping childcare, home health aides, and similar professions. Tipping the cost of a session, such as an evening’s pay for a regular sitter, is considered standard. For a live-in nanny, consider a bonus of up to a week’s wages. For those hired through a service, make sure you check that they are allowed to accept tips before giving. Building staff . If you live in an apartment building, consider tipping cleaners, superintendents, security, and concierges. Somewhere between $25 to $100 each is a good range for this kind of service. Mail and delivery service providers. U.S. Postal Service workers may not accept gifts of cash or gift cards, but they can accept small gifts worth $20 or less. FedEx and UPS employees are encouraged to decline cash gifts, but they can accept small personal gifts when making a delivery. Professional service providers. Most professionals, such as teachers, doctors, lawyers, etc., won’t accept cash gifts, so consider giving them a gift card or present instead, with a note of thanks. For more information Gift cards are a classic way to show your appreciation. But before buying, check out these T TESTAMENTARY SPECIAL POWERS OF APPOINTMENT estamentary special powers of appointment provisions contained in an irrevocable trust allow the Settlor of the trust to exercise the power via his or her Last Will and Testament. The Last Will and Testament will have to be submitted to a probate court and allowed. It is through the Last Will and Testament of the Settlor of the Trust that the exercise of the testamentary special power of appointment contained within the terms of the irrevocable trust is achieved. If the Settlor of an irrevocable Medicaid trust includes such a provision in the Trust to appoint (i.e.redirect) the Trust principal to a class of individuals such as the descendants of the Settlor, the Settlor thereby reserves the right to change the ultimate beneficiaries of the Trust that were originally going to receive the balance of the Trust estate upon the Settlor’s death. If the Settlor simply wants to change who would actually receive the Trust estate, the Settlor, by reserving this testamentary special power of appointment, can include a provision in his or her Will that exercises the power by having the Will allowed in probate court. Therefore, such a change can still be made even though the trust is otherwise irrevocable. This special power of appointment, also referred to as a limited power of appointment, cannot include the power to appoint to the Settlor, the Settlor’s estate or the creditors of the Settlor’s estate. If such a power was included within the terms of the Trust, it would simply not be a special power of appointment, and would cause the assets in the Trust to be countable for MassHealth eligibility purposes. One other benefi t of such a provision in an irrevocable trust is the obtainment of the step-up in cost basis under Internal Revenue Code Section 2038. This is because when the assets are transferred to the irrevocable trust an incomplete gift results due to the special power of appointment provision thereby causing the Trust assets to be included in the gross taxable estate of the Settlor upon his or her death. Treasury Regulation 25.2511-2(b). If your home is transferred to such a Trust that you may have purchased 40 years ago for $150,000, but that is now worth $800,000, upon your death, the cost basis of the home will then become $800,000 in the hands of your beneficiaries due to the step-up in cost basis provisions of IRC Section 1014. A subsequent sale of the home by your children shortly after your death for $800,000 will result in no capital gain. If your total estate is below $2million, there also will be no Massachusetts estate tax to be paid. In a typical Medicaid irrevocable Trust, this is but one provision that will result in a much-desirable step-up in cost basis in order to avoid a substantial future capital gain and a corresponding substantial capital gains tax. 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. tips from BBB at https://www. bbb.org/article/news-releases/14400-dont-get-scammedout-of-a-gift-card-this-season. Read this article for advice on picking corporate gifts at https://www.bbb.org/article/ news-releases/23398-bbbbusiness-tip-how-to-pick- theright-corporate-gift-this-holiday-season. Get more tips for the holiday season from BBB by visiting https://www.bbb.org/ all/holiday.
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