In 2024, there are several important financial dates that individuals, businesses, and investors should be aware of to effectively plan for the year ahead. These dates play an important role in taxation, financial reporting, and investment decisions.
Here are some key financial dates to mark on your calendar for 2024:
FOR INDIVIDUALS:
Jan 1 |
· Start of the tax year (calendar) and Q1 · Start of General Enrollment Period for Medicare Part A and Part B · Start of Open Enrollment Period for Medicare Advantage |
Jan 15 |
· Q4 estimated payment deadline for prior year |
Jan 31 |
· Income tax return (Form 1040) filing and payment deadline to avoid late penalty for Q4 estimate, if it was not timely paid |
Feb 15 |
· Form W-4 filing deadline for taxpayers who claimed an exemption from income tax withholding for the prior year to continue their exemption in the current year |
Mar 31 |
· End of Medicare General Enrollment Period |
Apr 1 |
· Required Beginning Date for RMDs · Start of Q2 |
Apr 15 |
· Income tax return (Form 1040) filing and payment deadline · Gift tax return (Form 709) filing and payment deadline · Request for automatic six-month extension (Form 4868) filing deadline to extend filing Form 1040 and 709 · Q1 estimated payment deadline · Deadline to contribute to an IRA or HSA for prior tax year |
Jun 15 |
· Q2 estimated payment deadline |
Jun 30 |
· Deadline to file FAFSA for prior academic year |
Jul 1 |
· Start of Q3 |
Sep 15 |
· Q3 estimated payment deadline |
Sep 30 |
· Determination date for identifying designated beneficiaries of retirement accounts |
Oct 1 |
· Start of Q4 |
Oct 15 |
· Extended income tax return (Form 1040) and gift tax return (Form 709) filing deadline · Start of Open Enrollment Period for existing Medicare enrollees |
Nov 1 |
· Start of Open Enrollment Period for Health Insurance Marketplace |
Dec 1 |
· Expected first day to file FAFSA for upcoming academic year |
Dec 7 |
· End of Open Enrollment Period for existing Medicare enrollees |
Dec 15 |
· Health insurance marketplace deadline in order for coverage to begin on January 1st of the following year |
Dec 31 |
· Deadline for satisfying RMDs for current year · Deadline for dividing retirement accounts with multiple beneficiaries in order to use separate accounting · Deadline for completing gifts for tax year · End of tax year (calendar) |
FOR BUSINESS TAXPAYERS:
Jan 1 |
· Start of the tax year (calendar) and Q1 |
Jan 15 |
· Q4 estimated payment deadline for prior year for sole proprietorships and single-member LLCs |
Jan 31 |
· Various Forms 1099 and 1098 issuance deadline · Form W-2 issuance deadline |
Feb 28 |
· Various Forms 1099 and other information returns paper filing deadline |
Mar 15 |
· Income tax return (Form 1120S) filing and payment deadline for calendar year S-corporations · Income tax return (Form 1065 or 1065-B) filing and payment deadline for calendar year multi-member partnerships and multi-member LLCs (default) · K-1 issuance deadline · Request for automatic six-month extension (Form 7004) filing deadline to extend filing Form 1120S, 1065, and 1065-B · S-corporation election (Form 2553) filing deadline to be treated as an S-corporation in the current year |
Mar 31 |
· Various Forms 1099 and other information returns e-file deadline |
Apr 1 |
· Start of Q2 |
Apr 15 |
· Income tax return (Form 1040) filing and payment deadline for sole proprietorships and single-member LLCs · Request for automatic six-month extension (Form 4868) filing deadline to extend filing Form 1040 · Income tax return (Form 1120) filing and payment deadline for calendar year C-Corporations and multi-member LLCs that elect to be classified as a corporation · Request for automatic six-month extension (Form 7004) filing deadline to extend filing Form 1120 · Q1 estimated payment deadline for sole proprietorships, single-member LLCs, C-corporations, and multi-member LLCs that elect to be treated as a corporation |
Jun 15 |
· Q2 estimated payment deadline for sole proprietorships, single-member LLCs, C-corporations, and multi-member LLCs that elect to be treated as a corporation |
Jul 1 |
· Start of Q3 |
Sep 15 |
· Q3 estimated payment deadline for sole proprietorships, single-member LLCs, C-corporations, and multi-member LLCs that elect to be treated as a corporation · Extended income tax return (Form 1120S) filing deadline for calendar year S-corporations · Extended income tax return (Form 1065 or 1065-B) filing deadline for calendar year multi-member partnerships and multi-member LLCs (default) |
Oct 1 |
· Start of Q4 |
Oct 15 |
· Extended income tax return (Form 1040) filing deadline for sole proprietorships and single-member LLCs · Extended income tax return (Form 1120) filing deadline for calendar year C-Corporations and multi-member LLCs that elect to be classified as a corporation |
Dec 15 |
· Q4 estimated payment deadline for C-corporations and multi-member LLCs that elect to be treated as a corporation |
Dec 31 |
· End of tax year (calendar) |
Subject to exceptions due to individual circumstances, entity elections, and delays when deadlines fall on weekends or legal holidays.
Contact us today for a complimentary review of your finances for 2024, and to take the next step in executing a successful financial strategy!
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