Hey Google, Remind Me To…
Between carpool, work, life administration, travel plans and personal time, it’s hard enough at times to remember to brush our teeth. Keeping track of financial deadlines, too? Forget about it! Not to worry. We have created an annual reminder of key financial deadlines in 2018 for you. Simply skim the first column to see which to-dos apply to you, then take 10 minutes during your next waiting room time or car repair visit to add a few reminders to your smart phone. If nothing else, save this email to your favorites so you can refer to it at any time.
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| If You…. | Then … | By… | And… |
| Are saving to a retirement plan through your employer | Review 401(k), 403(b), most 457 plans and Thrift Savings contributions. | January 23rd, 2018 | Ensure you are contributing enough to receive full match offered by your employer.
Contribution limit: $18,500 (up $500 from 2017).
If you will be age 50 or older by the end of the year, don’t forget about the additional $6,000 catch-up contribution that can be made.
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| Make contributions to Traditional or Roth IRAs | Make 2017 contributions before the deadline. Contributions cannot be delayed by filing an income tax extension.
Correct 2017 contributions made in excess of allowable limit. |
April 17th, 2018
October 16th, 2018 |
2018 contribution limit (combined): $5,500, plus $1,000 age 50+.
Filing extension is not required to complete a return of excess contribution in October.
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| Are contributing to a Flexible Spending Account through your employer (FSA) | Make use of your FSA balance from 2017.
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March 15th, 2018
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Depending on your plan, one of two options will exist to help you use your funds:
1. Carry over up to $500 of unused funds contributed in 2017 to cover expenses in 2018, OR 2. Use balance in account by March 15th, 2018 or they will be forfeited |
| Will be applying for Federal Student Aid | Submit FAFSA application for July 1, 2017-June 30, 2018 school year.
Begin filing FAFSA for July 1, 2018-June 30, 2019 school year.
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June 30th, 2018
October 1st, 2018 |
Submission window started January 1, 2017. |
| Pay taxes | File your 2017 return or file an extension by the deadline.
File your extended return by the deadline.
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April 17th, 2018
October 15th, 2018 |
Taxes owed must be paid by April 17th, 2018, even if an extension is filed. |
| Make quarterly estimated tax payments | Make estimated tax payments by due dates.
4th Quarter 2017 Estimated Tax Payment Due Date
1st Quarter 2018 Estimated Tax Payment Due Date
2nd Quarter 2018 Estimated Tax Payment Due Date
3rd Quarter 2018 Estimated Tax Payment Due Date
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January 16th, 2018
April 15th, 2018
June 15th, 2018
September 15th, 2018 |
For periods:
September 2017-December 2017
January 2018-March 2018
April 2018-May 2018
June 2018-August 2018
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| Are considering converting Traditional IRA funds to a Roth IRA | Convert before year-end. | December 31st, 2018 | Ordinary income tax will apply to amount converted.
Consult with a CPA before converting.
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| Will be age 70 ½ or older in 2018 and have retirement accounts | Take your Required Minimum Distribution (RMD) by year-end or make decision to delay 1st year RMD until April 1st, 2019. | December 31, 2018 | 50% federal tax penalty will apply to amount not withdrawn.
If you turn 70 ½ in 2018, you may delay your 1st RMD until April 1st of 2019. RMD’s do not apply to Roth IRA’s. |
| Plan to make charitable donations
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Make donations before year-end. | December 31st, 2018 | If you are 70 ½ or older, consider making a Qualified Charitable Donations (QCD).
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| Plan to make annual exclusion gifts | Gift funds in time to ensure gift is completed by December 31st.
Gifts must be completed (checks cashed) by December 31st so gift funds no later than the 10th to ensure checks are cashed on time. |
December 10th, 2017 | Tax-Free Gift Amount: $15,000, per recipient (up $1,000 from 2017)
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