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
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