A Word from the CEO
Last month's article, "6 End-of-Year Tax Tips for 2020," (see Recent Articles below for a link) focused on some tax credits and tax deductions for which you may be eligible. But what's the difference between a tax credit and a tax deduction? We address that question in this month's issue.
We also include an article that reviews the increases in Medicare premiums and deductibles that take affect on January 1, 2021.
Please also note these end-of-year financial housekeeping items.
- Online access to your JRB retirement account will not be available from 4:00PM ET December 28 until 4:00PM ET December 30, 2020 due to maintenance. During this time you will not be able to make any investment changes to your JRB account.
- Reminder to Retired Clergy — send your parsonage allowance declaration for 2021 to the JRB by December 28.
- Now is a great time to increase your JRB retirement plan contribution. Not only will you reduce the 2021 taxes you pay, you'll build retirement security.
Please know that you can always reach out to the JRB to discuss any aspect of your financial and retirement plan. We are just an email or phone call 888-JRB-FREE (572-3733) away.
Enjoy the Remaining Days of Hanukkah,