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Filing Taxes in 2014 The five dates to mark on your calendar

Filing Taxes in 2014

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When it comes to filing taxes in 2014, remember these five dates and you'll stay out of trouble, while maximizing your chances for financial independence.

Text of Filing Taxes in 2014

  • 1. Filing Taxes in 2014 The five dates to mark on your calendar

2. April 15th, 2014 Everyone knows this is when your taxes have to be turned in, and any payments for taxes sent. But theres much more that you should do before this date 3. April 15th, 2014 Make your first quarter estimated tax payment (for the self-employed) Max out your IRAs Max out your Health Savings Account (HSA) Max out your childs Education Savings Account (not including 529s) File an extension This is also the last day that youre allowed to make some big-time, money- saving moves that count toward your 2013 taxes. Youre eligibility for each depends on your income level and insurance status, but they are all worth investigating. 4. June 16th, 2014 If you are need to make estimated tax payments, this is the day when your second-quarter payment needs to be turned in. 5. September 15th, 2014 Again, if you need to make estimated tax payments, now is the day to make sure your third-quarter installment has been taken care of. 6. October 15th, 2014 If, back in April, you knew you couldnt get your taxes done in timeand you requested and were granted an extensionthis is your new April 15th. All of your taxes for 2013 need to be turned in by today. 7. December 31st, 2014 Decide if there are any investment sales you want to make (possibly to lower your tax liability) Make any tax-deductible charitable contributions. If you have any Flex medical spending money left, use it on qualified purchases. Contribute money to your childs 529. Open an HSA if youre eligible. Make any IRA withdrawals for 2014. Its easy to get caught up in the bustle of the holidays. But set aside some time before the New Year to take care of some business. You have until 11:59 PM on this day to make the following moves which could help improve your financial situation. 8. Things to Remember In the end, this list certainly isnt exhaustive. Everyone has their own, unique tax situation. But for most, remembering these dates will help you stay out of trouble with the IRS, and take advantage of the benefits that can lead to financial independence! Then, you can focus on the important things, like finally learning to play that guitar.