2009 Important Dates & Deadlines For a more detailed description click on the dates below or contact Marc Kowalski at 952 225-0377
January
1 Start your New Year financial resolutions
Ideas: Get your will/trust done, start contributing to IRA’s/Roth’s/ESA, pay off debt, get that financial plan done, buy the insurance you need, increase 401k contributions.
15 Quarterly federal and state estimated taxes due
31 Self Employed 401K, SIMPLE, SAR SEP contributions due
This pertains to the ‘employee portion’ of the plan contribution, contact Marc Kowalski at 952 225-0377 for details.
February
1 Check your credit report at annualcreditreport.com
You can receive 1 free credit report from each of the three reporting agencies each year per social security number.
March
1 Deadline for free application for Federal Student Aid (FAFSA) for most states
15 Corporate tax returns due
April
15 IRA, ESA, Roth, Self Employed deadline
Profit sharing and matching dollars into SIMPLE and Solo 401k due.
15 Individual tax returns due
15 Quarterly federal and state estimated taxes due
May
1 Have a 1040 tax review completed
Contact Marc Kowalski at 952 225-0377 for a complementary review.
15 Real estate taxes due
June
1 Have a will or trust review completed
Contact Marc Kowalski at 952 225-0377 for a complementary review.
15 Quarterly federal and state estimated taxes due
July
15 Have a review of your insurance coverage done
Contact Marc Kowalski at 952 225-0377 for a complementary review.
August
September
1 Review your benefits package; Prepare for open enrollment
Our goal is to make sure you get the most out of your benefits. This is also a good time to review beneficiaries on all your policies. Contact Marc Kowalski for additional help in this area.
15 Quarterly federal and state estimated taxes due
October
15 Final individual tax extension deadline
15 Real estate taxes due
31 Make sure Required Minimum Distribution (RMD) is done if you are over age 70 1/2
Very Important: The IRS penalties are very expensive if you do not do your required minimum distribution from your IRA or qualified plan.
November
1 Contact your tax preparer for year end tax review
30 Complete any year end tax planning moves
Take capital gains or losses; make charitable contributions. Contact Marc Kowalski at 952 225-0377 for any investment tax moves.
December
1 Write down next year's goals and upcoming changes
Do any of these changes affect your financial plan? If yes, contact Marc Kowalski at 952 225-0377 to ensure we make the proper adjustments.
15
Ensure your 401k, 403b, 457, Deferred Comp, IRAs, Roths and ESAs are adjusted to next year’s maximums
2009 Maximums are as follows: IRA $5,000 - over age 50 $6,000 | 401k/403b/SAR SEP $16,500 – over age 50 $21,500 | Roth $5,000 - over age 50 $6,000 | ESA $2,000 | SIMPLE $11,500 - over age 50 $14,000
15 Consider paying January's quarterly state estimated tax.
Contact your tax advisor to determine if this makes sense for you.
Securities offered through Royal Alliance Associates Inc., member FINRA/SIPC. Investment advisory services offered through Focus Financial Network, Inc., a registered investment advisor not affiliated with Royal Alliance Associates, Inc..
