As we approach the end of the year, it's time to get ready for the 2022 tax season. You still have time to take action and reduce how much you pay in taxes. Our article "Tax Planning Opportunities for 2022" offers several suggestions: maximizing your retirement plan contribution, determining if itemizing makes sense for you, the Earned Income Tax Credit for low- and moderate-income households and understanding the Alternative Minimum Tax. The article also offers tax tips specifically geared to the needs of clergy.

If you are age 72 or older by December 31, 2022, you may need to take a Required Minimum Distribution (RMD) from your JRB retirement account by the end of the year if you haven't already done so. Find the information you need in our RMD article. If we do not hear from you by December 1, 2022, we will automatically process your JRB RMD.

Finally, please note that the Alerus Web Portal used to access your JRB retirement account will be closed for maintenance from 4:00 PM ET November 28 through noon ET November 30.

If you have questions about the tax provisions we describe, RMDs or your long-term financial plan, please contact us via email or call us at 888-JRB-FREE (572-3733).

L'Shalom and Happy Thanksgiving,