Save the (Tax) Dates!

Tax Planning

2017 is right around the corner, and that means two things: it’s time to buy a new calendar, and tax season is almost here. Once you have that new planner (or just your phone!) handy, check out these important tax dates and deadlines. Mark these dates so you don’t forget!

First, the basics:

Open Enrollment for Marketplace Insurance: November 1, 2016- January 31, 2017
If you need health insurance for 2017 you have three months to enroll through the Health Insurance Marketplace. Want your coverage to take immediate effect by the New Year on January 1, 2017? Select your plan by December 15, 2016.

Deadline to Maximize Your 401K Contributions: December 31, 2016
Whether you are self-employed or work for an employer, you have until the end of the year to maximize your 401K contributions, saving you money for retirement and on your taxes.

W-2s and 1099-Misc Start to Arrive:  January 31, 2017

You should start seeing your W-2s and 1099s arrive in the mail.

Tax Year 2016 Tax Deadline: April 18, 2017
It’s the big day! Individual tax returns are due for Tax Year 2016, so be sure e-file or postmark your individual tax returns by midnight local time. The regular tax return filing deadline is April 15. However, due to April 15 being on a Saturday and the Washington D.C. Emancipation Day holiday being observed on April 17 instead of April 16, 2017, Tax Day is on the following Tuesday.

Last Day to make a 2016 IRA Contributions: April 18, 2017: 

It’s not just Tax Day! If you haven’t maxed out your IRA contribution for 2016, you can make contributions to a IRA by April 18, 2017 to lower your 2016 taxable income!

Self-Employed? Know Your Quarters!

4th Quarter 2016 Estimated Tax Payment Due: January 17, 2017
If you are self-employed or have other fourth-quarter income that requires you to pay quarterly estimated taxes, make sure your payment is postmarked by January 17, 2017.

1st Quarter 2017 Estimated Tax Payment Due:  April 18, 2017
If you are self-employed or have other first-quarter income that requires you to pay quarterly estimated taxes, send in your first quarter estimate by April 18, 2017.

2nd Quarter 2017 Estimated Tax Payment Due: June 15, 2017

3rd Quarter 2017 Estimated Tax Payment Due:  September 15, 2017

If you have more questions about dates, TurboTax has your covered. Continue to visit the TurboTax Blog or TurboTax.com for answers to your tax questions.

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