The end of tax season is around the corner.
This year, tax filing deadline is April 15th. So get your appointments with CPAs, Online Tax Advisors, or brave the new forms yourself!
For this year’s little known tax fact – according to the Tax Foundation, last year total federal, state and local tax revenues combined to be roughly $5.2 Trillion (or 30% of the nation’s income). Another way to look at $5.2 Trillion is $5,200,000,000,000 – that’s a lot of zeros. That is more than the combined cost of food, clothing, and housing in the USA last year (check out the chart below). Breathe that in…
Feel free to write your congressman.
Enjoy the reminders below:
| DATE | OTHER NOTES |
Tax Filing Deadline | Monday Apr 15, 2019 |
|
401k Employee Contributions | Dec 31, 2018 | Contributions normally are deducted from payroll |
Traditional / Roth IRA Contributions | Monday Apr 15, 2019 | |
SEP IRA Contributions | The day you file taxes (with last deadline being Oct 15, 2019) | 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, 2019) |
|
HSA Contributions | Apr 15, 2019 | 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: Tax Foundation: https://taxfoundation.org/publications/tax-freedom-day/