Have you been able to reflect on God’s provision and blessings in 2016?
I am in awe of all He accomplished here at Jews for Jesus. One thing that really stands out to me were our ten different evangelistic outreaches we held worldwide—in Israel, Berlin, Budapest, St. Petersburg, Odessa, Moscow, New York City, Chicago, London, and Paris. God allowed us to boldly share the gospel with tens of thousands of people in these cities. This would not have been possible without the support of our faithful donors.
While there are so many more highlights from 2016, we now look to the ambitious goals we have for 2017, but first I must share a quick update.
These last few days of the year are some of the most critical to the success of meeting our year-end goal. We have seen great progress so far towards reaching the $500,000 budget shortfall, but now is the time when we need those who have not yet given to rise up and help us fill the gap.
Just like you, I want to be positioned to boldly proclaim the gospel to Jewish people around the world. Would you be willing to make your first gift to us today? I would love to be able to count on you to help us reach our financial goal by December 31.
If you stand with us and our mission, here is a link where you can give your first gift: store.jewsforjesus.org/ap16e12.
Your brother in Him,
David
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Jews for Jesus
60 Haight Street
San Francisco, California 94102, United States
415-864-2600
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Merry Christmas! from David Brickner of Jews for Jesus in San Francisco, California, United States
Merry Christmas!
Have you ever noticed that God is in the habit of doing things differently than what we want or expect? While we find ourselves questioning Him, wondering about His purposes, it is only afterward that we see His great wisdom. It is only in hindsight that we can understand the reasons for His working the way He did.
And that is certainly true when it comes to the Incarnation and God’s plan of salvation. It is a mystery that demands we look beyond the limits of our own expectations and receive what He has done for us. Perhaps nowhere in Scripture do we see this sense of mystery and surprise more beautifully portrayed than in our fourth and final Jewish Christmas card for this year. Indeed, so great is the mystery of this passage that rabbis have mysteriously excluded it from the regular cycle of readings in the synagogue. It presents a dilemma, especially for those who would want God to do things according to their own expectations. But God never does that, does He?
This final Christmas card focuses on the final of four “Servant Songs” which Isaiah has written and it is the most stunning of all of them. Isaiah chapter 53 is lengthy but very worth taking the time to read during this holy season.
First, we learn about the Servant’s appearance;
“Who has believed our report?
And to whom has the arm of the Lord been revealed?
For He shall grow up before Him as a tender plant,
And as a root out of dry ground.
He has no form or comeliness;
And when we see Him,
There is no beauty that we should desire Him.”
In this first stanza we learn about the advent of this Servant, an appearance that Isaiah says is most unbelievable. He is actually called “the arm of the Lord,” a phrase that refers throughout the Bible to God’s mighty acts of salvation (see Deuteronomy 7:19; Isaiah 52:10). So from God’s perspective we should all be very excited to meet this Servant. Yet from a human perspective he appears to us to be something far different. He is a tender shoot and a root out of dry ground. Not exactly a powerful image. Some would say that is a hopeful image, perhaps like a babe in a manger. But that isn’t how most people will see Him. There is nothing attractive, no beauty or majesty at all that we should want to even be with Him. Shocking!
Second, we learn about the Servant’s agony.
“He is despised and rejected by men,
A Man of sorrows and acquainted with grief.
And we hid, as it were, our faces from Him;
He was despised, and we did not esteem Him.
Surely He has borne our griefs
And carried our sorrows;
Yet we esteemed Him stricken,
Smitten by God, and afflicted.
But He was wounded for our transgressions,
He was bruised for our iniquities;
The chastisement for our peace was upon Him,
And by His stripes we are healed.
All we like sheep have gone astray;
We have turned, every one, to his own way;
And the Lord has laid on Him the iniquity of us all.
He was oppressed and He was afflicted,
Yet He opened not His mouth;
He was led as a lamb to the slaughter,
And as a sheep before its shearers is silent,
So He opened not His mouth.
He was taken from prison and from judgment,
And who will declare His generation?
For He was cut off from the land of the living;
For the transgressions of My people He was stricken.
And they made His grave with the wicked—
But with the rich at His death,
Because He had done no violence,
Nor was any deceit in His mouth.”
Look at how in this second stanza Isaiah contrasts the agony of the Servant and the part that we directly play in it. For His part, the Servant is despised, his life is characterized by sorrow, piercing, wounding, punishment and the torture of being crushed.
For our part, we are the ones doing the despising. The horror of it all is that we are the very ones causing His sorrow and grief. Instead of longing to see Him, we looked away and felt justified that He deserved this suffering all along. But it was our sickness that caused His pain, our sin that produced His agony, our waywardness that led to His judgment.
While the Servant suffers, we stray. We are the wayward sheep but He is the slaughtered Lamb. Yet through the Servant’s very suffering we receive shalom, peace. Because the servant is wounded, we can be healed. Amazingly, in response to all of this agony, the Servant raises no complaint and offers no defense. There was absolutely no justice in the extreme violence he endured and that ended with His very life being extinguished. It was a complete travesty, yet no one spoke up for Him. Through our silence and inaction, we all essentially said, “Who cares?” It was our fault that brought this about; it was all on account of our transgressions or misdeeds; we deserved the agony He received. Tragic!
Finally, we learn about the Servant’s accomplishment.
“Yet it pleased the Lord to bruise Him;
He has put Him to grief.
When You make His soul an offering for sin,
He shall see His seed, He shall prolong His days,
And the pleasure of the Lord shall prosper in His hand.
He shall see the labor of His soul, and be satisfied.
By His knowledge My righteous Servant shall justify many,
For He shall bear their iniquities.
Therefore I will divide Him a portion with the great,
And He shall divide the spoil with the strong,
Because He poured out His soul unto death,
And He was numbered with the transgressors,
And He bore the sin of many,
And made intercession for the transgressors.”
And now in the third stanza comes the biggest shocker of all. While there is no question that we are the cause of the Servant’s agony, in reality God intended it to be so. God did this and yes, God was pleased to do it. Don’t ever let anyone say the Jews or the Romans crucified Jesus. While it is true that our sin was the reason for Yeshua’s suffering and death, it was God who caused it all. The Servant’s sacrifice was in fact a sin offering to bring about atonement and results in God’s forgiveness for all who receive Him. He was born to die. But as we see, the Servant lives forevermore! “He will see His offspring” not only confirms the Servant’s resurrection but also points to the promise of our own eternal life. Triumphant!
I want to close this Christmas card with a rabbinic-like story.
A boy and his father were traveling in a car when a bee flew through the open window. The boy was highly allergic to bee stings. Both the boy and his father knew that his life was in danger. The boy began to scream and jump frantically around to avoid the agitated bee when the father reached out and grabbed the bee in his hand. The bee stung the father as he crushed it in his palm and the father said, “Look, son,” holding up his hand with the stinger still in it. “He can’t hurt you anymore.” And as that father did for his son, so our heavenly Father has done for us through His Son; born in Bethlehem, born to die, His Righteous Servant. And He did it all for us.
We have so much to be thankful for, Gary.
I hope this finds you well and I pray that you and your family have a very blessed and Merry Christmas!
Blessings,
David
*In last week’s Jewish Christmas card, I referenced Targum Yerushalami on Genesis 3:15, which is a rabbinic source.
I should have also referenced a second rabbinic source that makes my point more definitively: Midrash Rabbah on Genesis 23:5. Thank you Wes Taber for pointing this out to me.
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Jews for Jesus
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Merry Christmas! from David Brickner of Jews for Jesus in San Francisco, California, United States
Merry Christmas!
Have you ever noticed that God is in the habit of doing things differently than what we want or expect? While we find ourselves questioning Him, wondering about His purposes, it is only afterward that we see His great wisdom. It is only in hindsight that we can understand the reasons for His working the way He did.
And that is certainly true when it comes to the Incarnation and God’s plan of salvation. It is a mystery that demands we look beyond the limits of our own expectations and receive what He has done for us. Perhaps nowhere in Scripture do we see this sense of mystery and surprise more beautifully portrayed than in our fourth and final Jewish Christmas card for this year. Indeed, so great is the mystery of this passage that rabbis have mysteriously excluded it from the regular cycle of readings in the synagogue. It presents a dilemma, especially for those who would want God to do things according to their own expectations. But God never does that, does He?
This final Christmas card focuses on the final of four “Servant Songs” which Isaiah has written and it is the most stunning of all of them. Isaiah chapter 53 is lengthy but very worth taking the time to read during this holy season.
First, we learn about the Servant’s appearance;
“Who has believed our report?
And to whom has the arm of the Lord been revealed?
For He shall grow up before Him as a tender plant,
And as a root out of dry ground.
He has no form or comeliness;
And when we see Him,
There is no beauty that we should desire Him.”
In this first stanza we learn about the advent of this Servant, an appearance that Isaiah says is most unbelievable. He is actually called “the arm of the Lord,” a phrase that refers throughout the Bible to God’s mighty acts of salvation (see Deuteronomy 7:19; Isaiah 52:10). So from God’s perspective we should all be very excited to meet this Servant. Yet from a human perspective he appears to us to be something far different. He is a tender shoot and a root out of dry ground. Not exactly a powerful image. Some would say that is a hopeful image, perhaps like a babe in a manger. But that isn’t how most people will see Him. There is nothing attractive, no beauty or majesty at all that we should want to even be with Him. Shocking!
Second, we learn about the Servant’s agony.
“He is despised and rejected by men,
A Man of sorrows and acquainted with grief.
And we hid, as it were, our faces from Him;
He was despised, and we did not esteem Him.
Surely He has borne our griefs
And carried our sorrows;
Yet we esteemed Him stricken,
Smitten by God, and afflicted.
But He was wounded for our transgressions,
He was bruised for our iniquities;
The chastisement for our peace was upon Him,
And by His stripes we are healed.
All we like sheep have gone astray;
We have turned, every one, to his own way;
And the Lord has laid on Him the iniquity of us all.
He was oppressed and He was afflicted,
Yet He opened not His mouth;
He was led as a lamb to the slaughter,
And as a sheep before its shearers is silent,
So He opened not His mouth.
He was taken from prison and from judgment,
And who will declare His generation?
For He was cut off from the land of the living;
For the transgressions of My people He was stricken.
And they made His grave with the wicked—
But with the rich at His death,
Because He had done no violence,
Nor was any deceit in His mouth.”
Look at how in this second stanza Isaiah contrasts the agony of the Servant and the part that we directly play in it. For His part, the Servant is despised, his life is characterized by sorrow, piercing, wounding, punishment and the torture of being crushed.
For our part, we are the ones doing the despising. The horror of it all is that we are the very ones causing His sorrow and grief. Instead of longing to see Him, we looked away and felt justified that He deserved this suffering all along. But it was our sickness that caused His pain, our sin that produced His agony, our waywardness that led to His judgment.
While the Servant suffers, we stray. We are the wayward sheep but He is the slaughtered Lamb. Yet through the Servant’s very suffering we receive shalom, peace. Because the servant is wounded, we can be healed. Amazingly, in response to all of this agony, the Servant raises no complaint and offers no defense. There was absolutely no justice in the extreme violence he endured and that ended with His very life being extinguished. It was a complete travesty, yet no one spoke up for Him. Through our silence and inaction, we all essentially said, “Who cares?” It was our fault that brought this about; it was all on account of our transgressions or misdeeds; we deserved the agony He received. Tragic!
Finally, we learn about the Servant’s accomplishment.
“Yet it pleased the Lord to bruise Him;
He has put Him to grief.
When You make His soul an offering for sin,
He shall see His seed, He shall prolong His days,
And the pleasure of the Lord shall prosper in His hand.
He shall see the labor of His soul, and be satisfied.
By His knowledge My righteous Servant shall justify many,
For He shall bear their iniquities.
Therefore I will divide Him a portion with the great,
And He shall divide the spoil with the strong,
Because He poured out His soul unto death,
And He was numbered with the transgressors,
And He bore the sin of many,
And made intercession for the transgressors.”
And now in the third stanza comes the biggest shocker of all. While there is no question that we are the cause of the Servant’s agony, in reality God intended it to be so. God did this and yes, God was pleased to do it. Don’t ever let anyone say the Jews or the Romans crucified Jesus. While it is true that our sin was the reason for Yeshua’s suffering and death, it was God who caused it all. The Servant’s sacrifice was in fact a sin offering to bring about atonement and results in God’s forgiveness for all who receive Him. He was born to die. But as we see, the Servant lives forevermore! “He will see His offspring” not only confirms the Servant’s resurrection but also points to the promise of our own eternal life. Triumphant!
I want to close this Christmas card with a rabbinic-like story.
A boy and his father were traveling in a car when a bee flew through the open window. The boy was highly allergic to bee stings. Both the boy and his father knew that his life was in danger. The boy began to scream and jump frantically around to avoid the agitated bee when the father reached out and grabbed the bee in his hand. The bee stung the father as he crushed it in his palm and the father said, “Look, son,” holding up his hand with the stinger still in it. “He can’t hurt you anymore.” And as that father did for his son, so our heavenly Father has done for us through His Son; born in Bethlehem, born to die, His Righteous Servant. And He did it all for us.
We have so much to be thankful for, Gary.
I hope this finds you well and I pray that you and your family have a very blessed and Merry Christmas!
Blessings,
David
*In last week’s Jewish Christmas card, I referenced Targum Yerushalami on Genesis 3:15, which is a rabbinic source.
I should have also referenced a second rabbinic source that makes my point more definitively: Midrash Rabbah on Genesis 23:5. Thank you Wes Taber for pointing this out to me.
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Jews for Jesus
60 Haight Street
San Francisco, California 94102, United States
415-864-2600
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What’s missing from the manger scene? from David Brickner of Jews for Jesus in San Francisco, California, United States
I hope you are eagerly anticipating the celebration of the Incarnation, Christ coming to earth to heal a broken world.
Have you taken a moment this season to think on the wonder of it all? The incredible event of Messiah becoming a man in order to experience all the normal experiences of human flesh, all in order that God might lovingly rescue his lost creation? His arrival signals hope for the world, and we rejoice.
Now imagine being one of the unsaved Jewish people whose hope is missing. Perhaps they see the celebration of Jesus’ birth, but they do not see that He is THEIR MESSIAH, the one who came to save the Jewish people.
This is why our mission—to share the Gospel with our Jewish brothers and sisters—dictates our actions every single day of the year. Our missionaries are out on the street as we speak, sharing the hope that is only found in Christ.
As you gather to celebrate the One who most Jews still await, would you join us and make a first-time gift to help rally behind this mission?
If so, you can go here: store.jewsforjesus.org/ap16e12 to make your gift. There is no better time than now!
Your brother in Him,
David
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Jews for Jesus
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What’s missing from the manger scene? from David Brickner of Jews for Jesus in San Francisco, California, United States
I hope you are eagerly anticipating the celebration of the Incarnation, Christ coming to earth to heal a broken world.
Have you taken a moment this season to think on the wonder of it all? The incredible event of Messiah becoming a man in order to experience all the normal experiences of human flesh, all in order that God might lovingly rescue his lost creation? His arrival signals hope for the world, and we rejoice.
Now imagine being one of the unsaved Jewish people whose hope is missing. Perhaps they see the celebration of Jesus’ birth, but they do not see that He is THEIR MESSIAH, the one who came to save the Jewish people.
This is why our mission—to share the Gospel with our Jewish brothers and sisters—dictates our actions every single day of the year. Our missionaries are out on the street as we speak, sharing the hope that is only found in Christ.
As you gather to celebrate the One who most Jews still await, would you join us and make a first-time gift to help rally behind this mission?
If so, you can go here: store.jewsforjesus.org/ap16e12 to make your gift. There is no better time than now!
Your brother in Him,
David
-------
Jews for Jesus
60 Haight Street
San Francisco, California 94102, United States
415-864-2600
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Jews for Jesus Development Department Monthly Newsletter from David Stone, Jews for Jesus of San Francisco, California, United States
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Jews for Jesus Development Department Monthly Newsletter from David Stone, Jews for Jesus of San Francisco, California, United States
Shalom to you, our partners in ministry. It is an honor to share with you the latest news from Washington, Savvy Living, Personal Planning, gift stories, finance news, and timely articles.There are no "asks" in this eNewsletter as it is designed totally to be a helpful service to you. Feel free to share it with others in your family or your friends. If you would like me to send it directly to them please send me their email address.
This information is put together in a way to be a help in understanding what is happening in our economy so you can use it to your best advantage. I hope this information is useful to you.
If you have any questions or I can be of assistance to you please contact me.
David Stone
Director of Donor Relations
PERSONAL PLANNER
How to Fund Your Living TrustA revocable living trust is one of the principal estate planning methods. While everyone should have a will, there are many benefits of a revocable living trust. For individuals who have moderate or larger estates, the revocable living trust can receive and own your property. For that reason, a revocable living trust is a good centralized method for managing your property.
If you as a senior person are unable or unwilling to manage your assets, the individual you've selected as successor trustee will take over and manage property for you. Not only does this protect you, the property will eventually pass to your heirs and bypass probate. The probate savings could be many tens of thousands of dollars.
A primary benefit of the living trust is that it avoids a conservatorship. If you have only a will, own substantial assets, and become unable to manage your property, it may be necessary to conduct an expensive and lengthy court process to appoint a conservator of your assets.
For example, comedian Groucho Marx had a will. But in his mid-eighties, he no longer was competent to manage his property. There was a major court battle between his family members and a long-time companion over who should be appointed conservator of both him and his property. The court battles consumed large sums of money and led to a very awkward and humiliating spectacle that was bewildering to Groucho Marx.
If Groucho Marx had created a living trust and transferred his property to that trust, then his selected successor trustee could have managed his property during his senior years.
Funded or Unfunded Living Trust?
It is possible to create a living trust that is unfunded during life. Together with the living trust, you would then sign a pour-over will. The assets that you possess at death would go through the probate process. However, the pour-over will may transfer those properties to the living trust. This property is then used according to your trust provisions to benefit your selected heirs.
The disadvantage of the unfunded trust is that you do not avoid probate. Your estate will pay the full probate costs. In addition, you give up the potential protection of a successor trustee during life. It is only if your assets are transferred to the trust that a successor trustee can then manage them for your benefit. The unfunded living trust, therefore, could lead to a conservatorship, as was the case with Groucho Marx.
Funded Living Trust
There are several different types of assets that will be transferred to a living trust. You will need to work with your attorney and other advisors to make certain that your property is correctly placed into the trust.
Title to your property is determined by state law. You will need to comply with the appropriate agreements or documents to make sure that title is held by the trustee. In most cases, you will serve as the initial trustee of the revocable living trust. Therefore, real property and other assets will be transferred from you as an individual to you as trustee of the trust.
Real estate is often the principal asset that is transferred to the trust. This is normally accomplished through a warranty deed or grant deed, depending upon your state. The property is transferred directly from you as an individual to you as trustee. Deeds are notarized and then recorded at the county registrar of deeds.
There are considerations that you should discuss with your attorney before transferring your home or other real property into your trust through a deed. There may be a reassessment or increase in the property tax, or there may be transfer taxes when deeds are recorded. In most states, the popular living trust has been protected from an increase in property taxes. However, you should check with your attorney.
Guidelines for Living Trust Property Transfers
1. Your Home: Even though your home is transferred to a living trust, you still qualify to deduct the mortgage interest paid on the home. If you later sell the home and have made it your principal residence for two of the past five years, you will be able to exclude $250,000 for a single person or $500,000 of capital gain for a married couple. In addition, most states permit you to live in the home and qualify for a homestead exemption reduction in your property tax, even though the home is now titled under the living trust.
2. Securities: Public stocks and bonds can be transferred directly to the trust. You may hold title to the bonds in trust or you may create a trust securities account that holds stocks and bonds.
3. Safe Deposit Box: If you have a safe deposit box, that can be taken out in the name of the trust. However, some institutions that maintain safe deposit boxes require a certified copy of the trust to be kept on file. Another option may be to give your successor trustee signing authority on your safe deposit box.
4. Real Estate: If you own real estate in your home state or other states, it should be transferred to the trust. If you pass away with real estate owned in your individual name in another state, it will require a rather expensive probate proceeding in that state to transfer the real estate. However, if it is transferred to your revocable trust, then you avoid that foreign state probate proceeding and cost.
When your home or other real estate is transferred to the trust, there may be a requirement to send a copy of the trust to your lender. Most title companies and lenders will accept a short "affidavit of trust" that can be prepared by your attorney. This indicates that the trust is a qualified living trust and the trustees have the power to transfer real estate.
5. Tangible Personal Property: A common question is whether tangible personal property should be included in the trust. It is possible to transfer your cars, boats, recreational vehicles or art and other collections to the trust. However, many individuals choose to retain personal ownership of tangible personal property. This is frequently the case because you may periodically buy or sell vehicles or other tangible personal items. By not transferring tangible personal property to the trust, it simplifies lifetime transfer of those items. However, if there is extremely valuable tangible personal property that would be subject to substantial probate cost through your will, then it may be appropriate to transfer that property to the trust.
What if you would like to sell trust property? It is entirely possible to transfer property from the trust to a new person. The trustee may simply deed the property directly to an individual.
In some circumstances, your attorney may think that it is better for title insurance purposes for you to sign two deeds. One deed is from you as trustee to you as an individual. The second deed would be from you as an individual to the new buyer. There may be a modest transfer tax cost for both deeds, but this is an acceptable strategy for simplifying the transfer of real property.Click to read more
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SAVVY LIVING
How to Create a Safe 'Aging-in-Place' HomeMy husband and I are thinking about making some modifications to our home so we can remain living there for as long as possible. Can you recommend some good resources that can help us with aging-in-place ideas?
Many retirees, like you and your husband, want to stay living in their own house for as long as possible. But being able to do so will depend on how easy it is to maneuver in your home as you get older. Here are some helpful resources to give you an idea of the different types of features and improvements you can make that will make your house safer and more convenient as you age.
Home Evaluation
A good first step in making your home more age-friendly is to do an assessment. Go through your house, room-by-room, looking for problem areas like potential tripping or slipping hazards, as well as areas that are hard to access and difficult to maintain. To help with this, there are several organizations that have aging-in-place checklists that point out potential problems in each area of the home, along with modification and solutions.
Rebuild Together, for example, has a two-page "Safe at Home Checklist" that's created in partnership with the Administration on Aging and the American Occupational Therapy Association. Go to AOTA.org and search for "Rebuilding Together Safe at Home Checklist."
The National Association of Home Builders also has an "Aging-in-Place Remodeling Checklist" that offers more than 100 suggestions to help homeowners age 50-plus live safely, independently and comfortably. Go to NAHB.org and search for "Aging in Place Remodeling Checklist."
Also check out AARP's excellent resource called the "HomeFit Guide" that's filled with 28-pages of tips and diagrams to make your entire home safe and easier to live in as you age. You can access it at AARP.org - search for "HomeFit" or call 888-687-2277 and ask them to mail you a free copy.
Personalized Advice
If you want more personalized help, consider getting a professional in-home assessment with an occupational therapist.
An occupational therapist, or OT, can evaluate the challenges and shortcomings of your home for aging-in-place, recommend design and modification solutions and introduce you to products and services to help you make improvements.
To find an OT in your area, check with your physician, health insurance provider or local hospital, or seek recommendations from family and friends. Many health insurance providers, including Medicare, will pay for a home assessment by an OT if prescribed by your doctor. However, they will not cover the physical upgrades to the home.
Another option is to contact a builder who's a Certified Aging-in-Place Specialist (CAPS). CAPS are home remodelers and design-build professionals that are knowledgeable about aging-in-place home modifications and can suggest ways to modify or remodel your home that will fit your needs and budget. CAPS are generally paid by the hour or receive a flat fee per visit or project.
To find a CAPS in your area visit the National Association of Home Builders website at NAHB.org/capsdirectory where you can search by state and city.
Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.
Click to read more
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YOUR PLAN
Give it Twice Trust
While visiting the Wills Planner on her favorite charity's website, June, a surviving spouse, came across the idea of a Give it Twice Trust. She contacted the charity for more information and talked with a gift planner who explained the concept as a way to first give income to children through a trust and then transfer the trust balance to charity in the future. June: Fred and I talked about this before he passed away. We both agreed that we wanted to treat each of our four children equally and also provide a benefit to our favorite charity.
The gift planner told June that with her estate of $800,000 she would have the ability to do something significant for both her family and favorite charity. June was concerned because while her three older children are financially responsible, her youngest, Jim, "spends money like water." June was afraid that if Jim were to receive cash in a lump sum he would spend it right away.
The gift planner explained that the "Give It Twice" plan could be very helpful. June could transfer $400,000 from her IRA at death to the trust. Her children would each receive one-fourth of the income from the trust over 20 years. That would give Jim a chance to learn to save and invest. After that time, the trust balance would benefit her charity. In addition, by using her IRA, June could save on income tax because the special trust is tax-exempt.
June: I established a Give it Twice Trust and was thrilled with the plan. The prospect of helping my four children and my favorite charity made me happy and I knew that it was the right thing to do.
Click to read more
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WASHINGTON NEWS
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WASHINGTON NEWS
IRS End-of-Year AdviceThe IRS published four end-of-year planning letters this week. The letters urge taxpayers to plan for actions both in 2016 and 2017.
1. Before December 31 – You may make your charitable contributions this month. Credit card gifts are valid if made by December 31, even if you pay the bill next year. Checks are also deductible if postmarked by U.S. Mail by December 31. IRA charitable rollovers may fulfill the 2016 required minimum distribution (RMD). These are permitted for IRA owners age 70½ or older and have a maximum limit of $100,000 per year.
2. Moved or Name Change – Taxpayers who moved should notify the IRS using Form 8822. Those who have name changes should notify the Social Security Administration. You will want to be certain that your Social Security records are updated so you receive appropriate credit for your payments.
3. Filing Returns – The filing season next year will start on January 23 and continue until Tuesday, April 18 (unless you file for extension). The IRS expects 153 million electronic returns to be filed. If you are obtaining a refund for the earned income tax credit (EITC) or the additional child tax credit (ACTC), Congress requires the IRS to hold the refund until at least February 15th. Koskinen stated, "For this tax season, it is more important than ever for taxpayers to plan ahead. People should make sure they have their year-end tax statements in hand, and we encourage people to file as they normally would, including those claiming the credits affected by the refund delay. Even with these significant changes, IRS employees and the entire tax community will be working hard to make this a smooth filing season for taxpayers." Koskinen notes that the IRS Free File program is available on www.irs.gov for taxpayers with incomes of $64,000 or less. Many taxpayers also will take advantage of the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs. To find a location near you, go to www.irs.gov and search for "free tax preparation."
4. Mileage for 2017 – The 2017 business rates will be down by one half cent to 53.5 cents per mile. Medical and moving mileage rates will be 17 cents per mile. The charitable rate is unchanged at 14 cents per mile. You also have the option as a taxpayer to calculate actual costs for your vehicle usage.
5. Flexible Spending Arrangements (FSAs) – The 2017 limit for FSAs is $2,600. If your employer permits use of this plan, you can allocate $2,600 in pretax salary to the plan and use it for qualified medical expenses. These are typically co-pays, deductibles and medical products. They also may include dental and vision care. Some employer plans permit you to carry over $500 of unused FSA benefit to the next year..
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FINANCES
Stocks - Adobe Reports Record Revenue and IncomeAdobe Reports Record Revenue and Income
Adobe Systems, Inc. (ADBE) announced its fourth quarter and full-year revenue on Thursday, December 15. The maker of Photoshop reported record revenue and net income for the quarter.
The company's revenue grew 23% during the quarter to $1.61 billion, topping estimates of $1.58 billion. For the full year revenue was $5.85 billion.
"Adobe's market-leading digital media and digital marketing solutions are revolutionizing how customers design and deliver exceptional digital experiences," said Adobe President and CEO Shantanu Narayen. "We enter 2017 with significant market momentum and strong technology tailwinds."
Adobe earned $0.90 per share on an adjusted basis, higher than the expected $0.86 per share. Annual earnings for the fiscal year were $3.01 per share.
Adobe has focused in recent years on its Creative cloud business, which has allowed it to move its popular products such as Photoshop to an online subscription. The cloud segment's revenues rose 33% this past quarter to $886 million. Selling its software on a subscription basis has allowed Adobe to post double-digit revenue growth for six consecutive quarters. For the first quarter of fiscal 2017, the company expects revenue of $1.63 billion.
Adobe Systems, Inc. (ADBE) shares ended the week at $103.52, down 1% for the week.
Oracle's Cloud Business Continues to Grow
Oracle Corporation (ORCL) announced its second quarter results on Thursday, December 15. The multinational computer technology company reported lower revenue than expected, partly due to modest growth in its cloud computing business.
The company reported revenue of $9.04 billion during the quarter, essentially flat in terms of growth compared to the same period last year. Expectations were for slightly higher revenue of $9.11 billion.
"Oracle has now passed salesforce.com and become number one in SaaS cloud applications sales to customers with over 1,000 employees according to the latest IDC report," said Oracle CEO Mark Hurd. "In other words, this year we are selling more enterprise SaaS than any cloud services provider in the world."
Oracle reported earnings per share of $0.61 during the quarter. This just came in ahead of estimates of $0.60 per share.
Oracle has invested heavily in beefing up its cloud computing business recently, acquiring NetSuite for $9.3 billion in November of this year. To Oracle's credit, its cloud computing business has experienced significant growth, rising 81.4% this past quarter to $878 million. This pace was not as strong as expected, however, falling below the $879.5 million estimate. Oracle Executive Chairman Larry Ellison has publicly predicted that the company's cloud computing business will eclipse market-leader Amazon in the future.
Oracle Corporation (ORCL) shares ended the week at $39.10, down 3% for the week.
Scholastic's Profits Rise
Scholastic Corporation (SCHL) announced its second quarter results on Thursday, December 15. The children's book publisher missed on revenue but topped earnings expectations.
The company reported that revenue increased 4% during the quarter to $623.1 million. This fell below Wall Street's estimated $628.6 million.
"In the U.S., our plan for level revenue and higher profits in book fairs is on track for the full-year," said Scholastic Corporation Chairman, President and CEO Richard Robinson. "In book clubs, where we reduced catalog mailings in the quarter, revenues were lower than expected, although we were successful in trimming costs to protect profitability. We are now expanding mailings of higher performing catalogs and anticipate improved club revenue in the second half of the fiscal year."
On an adjusted basis Scholastic earned $1.99 per share during the quarter. This was $0.07 better than the expected $1.92.
Scholastic, which holds the perpetual U.S. publishing rights to the popular Harry Potter book series, benefitted from new Harry Potter publishing that coincided with the new spinoff film franchise Fantastic Beasts and Where to Find Them. The new Harry Potter material helped Scholastic conjure up strong revenue growth in the U.S. and Canada. Scholastic's children's book publishing segment saw revenue increase 5% to $432.5 million.
Scholastic Corporation (SCHL) shares ended the week at $48.71, up 6.3% for the week.
The Dow started the week of 12/12 at 19,770 and closed at 19,843 on 12/16. The S&P 500 started the week at 2,259 and closed at 2,258. The NASDAQ started the week at 5,428 and closed at 5,437.Read more
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Bonds - Yields Fall After Fed Rate Announcement
Yields Fall After Fed Rate AnnouncementTreasury yields ended the week down from the highs they reached on Wednesday after the Federal Reserve raised interest rates at its December policy meeting. Though the Fed's rate hike showed confidence in the U.S. economy, housing start data for November produced a gloomier picture.
The Fed's announcement of a 25 basis point interest rate hike on Wednesday was expected. What surprised many analysts and investors was the belief of many Fed members that there could be three rate hikes in 2017 instead of the expected two.
On Thursday, the benchmark yield on the 10-year note rose 11 basis points to 2.64% before closing at 2.60%, a high for the week. As the news of Fed members' rate hike projections sunk in, the 10-year yield began to fall, dropping 3 basis points to 2.57% during early Friday trading. Yields move inversely to prices, so as they fall, prices rise.
"The bond market's reaction is based on what the [rate forecasts] show," said Investec chief economist Philip Shaw. "But this has not been a good guide before, so we need to get some perspective."
Though the Fed seems confident enough in the U.S. economy to predict three rate increases next year, data released Friday showed housing starts in November were less than expected. New housing projects in the U.S. fell 18.7% in November to 1.09 million units, less than an expected 1.23 million unit rate.
The 10-year Treasury note yield finished the week of 12/12 at 2.60%, while the 30-year Treasury note yield was 3.18%.Read more
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CDs and Mortgages - Mortgage Rates' Rise Reaches Seventh Week
Mortgage Rates' Rise Reaches Seventh WeekFreddie Mac released its latest Primary Mortgage Market Survey (PMMS) on Thursday, December 15. Mortgage rates rose for the seventh consecutive week, though this week's rate survey was completed prior to the Federal Reserve's decision to raise interest rates.
The 30-year fixed rate mortgage averaged 4.16% this week. This is up from 4.13% last week. During the same time last year, the 30-year fixed rate mortgage averaged 3.97%
This week the 15-year fixed rate mortgage averaged 3.37%, up from 3.36% last week. At this time last year, the 15-year fixed rate mortgage averaged 3.22%.
"This week's mortgage rate survey was completed prior to the FOMC announcement," said Sean Becketti, Chief Economist at Freddie Mac. "The 30-year mortgage rate rose 3 basis points on the week to 4.16%. The MBA's Applications Survey posted drops in both refinance and purchase applications, registering the impact of recent mortgage rate increases. If rates continue their upward trend, expect mortgage activity to be significantly subdued in 2017."
Based on published national averages, the money market account finished the week of 12/12 at 0.51%. The 1-year CD finished at 1.17%.Read more
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Thank you for your interest in planned giving. To access any of our resources, please go to our website.
Your Brother in Yeshua (Jesus),
David Stone
Jews for Jesus
Copyright © 2016 Jews for Jesus, All rights reserved.
Our mailing address is:
Jews for Jesus
Thank you for your interest in planned giving. To access any of our resources, please go to our website.
Your Brother in Yeshua (Jesus),
David Stone
Jews for Jesus
Copyright © 2016 Jews for Jesus, All rights reserved.
Our mailing address is:
Jews for Jesus
60 Haight Street
San Francisco, California 94102, United States
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