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2018 Tax Deadlines

2018 Tax Deadlines

The end of tax season is around the corner.

This year, tax filing deadline is not April 15th. I know, very exciting stuff!

Because April 15th lands on a weekend, the due date for tax filings is postponed to the next business day. For this year, it is April 17th, a day after the legal holiday only observed in the District of Columbia, Emancipation Day.

For this year’s little known tax fact – let’s look at the tax code and its rapid expansion in the chart below. This chart includes not just the code itself, but all of the court cases and commentary on the law. The actual tax code itself is about 4,000 pages. However, those arguing tax law use previous court cases as legal precedent to help strengthen their argument.

Tax Complexity.jpg

Enjoy the reminders below:

 

DATE

OTHER NOTES

Tax Filing Deadline

Tuesday Apr 18, 2018

 

401k Employee Contributions

Dec 31, 2018

Contributions normally are deducted from payroll

Traditional / Roth IRA Contributions

Tuesday Apr 17, 2018

More information on spouse contributions to IRA

SEP IRA Contributions

The day you file taxes (with last deadline being Oct 15, 2018)

For self-employed individuals. Check with your tax preparer to determine how much you can contribute.

SIMPLE IRA Contributions

The day you file taxes (with last deadline being Oct 15, 2018)

 

HSA Contributions

Apr 17, 2018

Check with HR if your insurance plan is HSA eligible. (More information)

Creating a tax plan moving forward can be a great resource. We can help you think about how your tax scenario impacts your financial plan.


Sources:
Chart: Tax Foundation / Joseph Henchman
https://taxfoundation.org/cost-tax-compliance/

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