November 2019 -- Issue #26
A Word from the CEO

As 2019 draws to a close, there are three areas of financial planning that are worth your attention.

First, take a preliminary look at your 2019 taxes: what you've already paid, the deductions you expect to take, how much you expect to pay or have refunded after filing and any end-of-year actions you'll take to reduce your tax liability. The ideas in "2019 Year End Tax Tips" can guide your thinking and raise questions to ask your tax preparer.

Second, plan participants who are 70 ½ or older may need to take a Required Minimum Distribution (RMD) from their retirement account by the end of the year if they haven't already done so. Find the information you need in our RMD article.

Finally, the IRS announced the contribution limits for retirement plans such as the JRB's. With these higher limits in mind, it's a good time to review your current savings rate — and to consider increasing the amount you save for retirement in 2020. It's a great way to reduce your taxes while building financial security.

Please don't hesitate to contact the JRB if you have questions about these articles or other issues related to financial planning and retirement. You can reach us by email or call us at 888-JRB-FREE (572-3733).

End-of-Year Tips for 2019 Taxes
How has the tax law changed the deductions you use? What can you do before the end of the year to lower your taxes? What should you be asking your tax preparer?
Must You Take a Required Minimum Distribution by 12/31/19?
Nearly all JRB plan participants over the age of 70 ½ must withdraw a minimum amount from their JRB account by the end of the year. Not sure if you need to take the RMD? Contact us at 888-JRB-FREE (572-3733) or  send us an email.
IRS Announces 2020 Contribution Limits for Retirement Savers
The Internal Revenue Service raised the amount you can contribute to your JRB retirement account. Save more. Reduce your taxes. Increase your financial security.
Make an appointment to speak with Mitch to discuss how to achieve your financial and retirement goals.

December 6-10 — USCJ/RA 20/20 Judaism: A Collaborative Convention in Boston, MA. Schedule an appointment to meet with Mitch.
This information is for general purposes only and does not constitute legal, tax, or investment advice.