As the saying goes there are two things that are inevitable: death and taxes. And, out of those two sure things, you can only really plan for your taxes. It should be no surprise when tax season surely and steadily rolls around again, yet every year there are plenty of individuals who file for a tax extension (in 2014 there were approximately 12 million Americans who did so).
Well, you may not want to contribute yet to your SEP or SIMPLE IRA for 2017 if you have one of these plans. Why? You may not be able to open a Defined Benefit or Cash Balance Plan for 2017 if you do.
This is a recording of our Everplans Orientation Webinar from 1/27/2017 for clients.
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The annual meeting is rescheduled to sometime later this quarter and the family reunion is sometime next summer, but like certain holidays and your birthday you know you can always count on a few specific dates. It’s reassuring. One such day is Tax Day, AKA April 15. Yet, unlike a birthday this looming deadline tends to sneak up on you in the least enjoyable way.
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