YEAR END PLANNING

We’ve put together a year end planning checklist for some of this year’s tax deadlines and financial planning considerations. Note that each year tax brackets change as well as contribution limit updates to retirement, college, and health savings accounts. If you believe you’ll have a significant change in your income in the upcoming year (positive or negative) or have other life changes that require advanced planning (children going to college, retirement, sale of a business, inheritance, home purchase or sale, etc.) please let us know or schedule a review so that we can update your plan.

DECEMBER 31 DEADLINES

Roth Conversions – Deadline December 31st

Tax-Loss Harvesting – Deadline December 31st

401(k) Employee Contribution – Deadline December 31st

Required Minimum Distributions - Deadline December 31st

Qualified Charitable Distributions - Deadline December 31st

Deductible Charitable Contributions – Deadline December 31st

529 Reimbursements - Deadline December 31st

Simple IRA Contributions – Withholdings from the last paycheck of the year, deposited by January 30th

APRIL 15 DEADLINES

IRA Contributions – Prior year contribution can be made up to April 15th

520 Contributions – Prior year contribution can be made up to April 15th

HSA Contributions – Prior year contribution can be made up to April 15th

OCTOBER 15 DEADLINES

401k Profit Sharing – Prior year contribution can be made on extended returns until October 15th

SEP IRA Contributions – Prior year contribution can be made on extended returns until October 15th

Simple IRA Employer Contributions – Prior year contribution can be made on extended returns until October 15th