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JANUARY 

Topic: Set Financial Goal(s) 

Blog: 1/2/24 Setting Financial Goals 

Presentation: 1/10/24 Starting Your New Year Off Right: Longevity, Stress & Finance 

To do: Set two doable financial goals, either for the year, or for each month of the year. 

To pay: The previous year’s fourth quarter estimated tax payment is due by January 15th. 

Important Financial Dates 

January 1 

• Bank Holiday (New Year's Day) 
• 2024 Social Security changes kick in: Social Security 2024 changes include a 3.2% cost-of-living adjustment to monthly benefits, a maximum taxable income increase to $168,600, the annual earnings limit for recipients increasing to $22,320 (before full retirement age) or $59,520 (at full retirement age), and Social Security disability benefits per month increasing to $1,550 (non-blind) or $2,590 (blind). 
• Medicare changes: There are generally changes to the premiums, deductibles, and coinsurance for the four Medicare plans (Part A, B, C, and/or D). How these changes affect you depends on your income and other factors. Check how much more (or less) you'll be paying and consider that for your monthly budget. 
• Changes to retirement savings rules: There are some complicated changes to the rules for contributing to various savings plans. Check what will happen to the amounts you (and your employer) are allowed to contribute to employer-sponsored plans, how much you can deduct for contributions to a traditional IRA, and whether you are eligible to contribute to a Roth IRA in 2024. 

Jan. 15: Bank and New York Stock Exchange Holiday (Martin Luther King Day) 

Jan. 16 

• Fourth Quarter 2023 Estimated Tax Payment Due: The last day to make tax payments for 2023. Use Form 1040-ES to file estimated payments.  
• You don't have to file a final estimated tax payment if you file your 2023 return (Form 1040 or 1040-SR) by January 31 and pay all taxes due. 

Jan. 31: Individuals Who Must Make Estimated Tax Payments Tax-Filing Due (January) 

• If you didn't pay your final 2023 estimated tax payment by January 16, you can choose to file your income tax return by January 31 and pay any tax due. This prevents you from paying any penalty for your late estimated tax filing.  
• However, if you don't file and pay by January 31, you can still file and pay by April 15. 

FEBRUARY 

Topic: Organizing Tax Documents 

Blog 2/1/24: Organizing Tax Documents 

Presentation 2/14/24: Understanding Your Personal Taxes 

To do: Gather tax documents as they are received (W-2s, interest and dividend statements, etcetera). 

Most tax-related forms are sent to you in January; some may be available as electronic documents that you can download at your convenience. In addition to key documents, you’ll also need some personal details. 

• W-2s (must be distributed by January 31) 
• Social Security numbers for you, your spouse, and your dependents (if applicable) 
• Last year’s federal and state tax returns 
• Bank statements from this year 
• Mortgage interest statement from this year 
• 1099 forms (must be distributed by January 31) 
• Charitable donations (monetary or in-kind) from the tax year 
• Information on any eligible tax credits or deductions 

An idea to help minimize stress: Collect receipts and other documentation each month in a file (paper or digital). 

Important Financial Dates 

Feb. 11: Major Spending Event (Super Bowl) 

Feb. 14: Major Spending Holiday (Valentine's Day) 

Feb. 15 Individual Exemptions Due (2023): If you claimed any exemptions from income tax withholding on the W-4 that you filed with your employer last year, you must file a new W-4 to continue those exemptions for the next year. 

Feb. 20: Bank and New York Stock Exchange Holiday (Washington's Birthday) 

MARCH

Topic: Plan for Potential Refunds/Payments

Blog 3/1/24: Planning for Potential Refunds and Payments

Presentation 3/13/24: Understanding Your Business Taxes

To do: Allocate tax refunds, bonuses, or pay increases you might get.

Important Financial Dates

March 17: Major Spending Holiday (St. Patrick's Day)

March 29: New York Stock Exchange Holiday (Good Friday)

March 31

• Major Spending Holiday (Easter)
• Medicare Reminder: last day to apply for Parts A and B for coverage starting in July.

APRIL

Topic: Pay Taxes

Blog 4/1/24: Paying Taxes

Presentation 4/10/24: Saving and Paying 2024 Taxes

To do: File your individual tax return by April 15, or an extension using IRS Form 4868.

To pay: First quarter estimated tax payments are due by April 15 

Important Financial Dates

National Financial Capability Month

April 15: Tax Day

• Individual Tax Returns Due for Tax Year 2023: You must file your individual tax return using Form 1040 or 1040-SR and pay any tax due unless you file for an extension.
• Individual Tax Return Extension Form Due for Tax Year 2023: You may use Form 4868 to file for an automatic six-month extension of time to file your tax return. However, you must still pay whatever taxes you estimate you owe to avoid interest and penalties.
• First Quarter 2023 Estimated Tax Payment Due: If you are self-employed or otherwise do not have income tax withheld (or you won't pay enough income tax through withholding), you must pay the first installment of your estimated tax for 2023.
• Last Day to Make a 2023 IRA Contribution: Contributions to an IRA must be made by this date unless you have an SEP IRA and a six-month extension is applied, pushing the deadline to Oct. 15, 2024. Could you contribute more to offset your tax liability?
• Last Day to Make a 2023 HSA Contribution: The 2023 HSA contribution limits are $3,850 (self) and $7,750 (Family). Those 55 And Older Can Also Contribute A $1,000 Catch-Up Contribution.

MAY

Topic: Manage your Debt

Blog 5/1/24: Check Your Financial Position

Presentation 5/8/24: Exit Planning

To do: Gather all the information you need to figure out your debt load. Detail how much you owe and calculate your debt-to-income ratio, including monthly debt payments. Aim for that ratio to be 36% or less.

To save: Review and adjust your budget to plan for any big events or purchases coming up throughout the summer.

Important Financial Dates

May 12: Major Spending Holiday (Mother's Day)

May 27: Bank and New York Stock Exchange Holiday (Memorial Day)

JUNE

Topic: Prep for College Bills

Blog 6/3/24: FASFA Tips

No June Presentation

To do: June 30 is the final date to file a Free Application for Federal Student Aid (FAFSA) form for the 2024–2025 school year. (Though the earlier you apply the better.) The FAFSA helps determine your child’s eligibility for financial aid. In addition, if you have a college-age child, add their school’s tuition due date to your calendar.

To pay: Make second quarter estimated tax payments by June 15 if you’re self-employed or underpaying based on your income.

Important Financial Dates

June 16: Major Spending Holiday (Father's Day)

June 17

• Individual Filing Date for U.S. Residents Abroad: U.S. citizens or resident aliens living and working outside the U.S. and Puerto Rico (or those on military duty outside the U.S.) must file and pay any tax, interest, and penalties due. Use Form 1040 or 1040-SR. You may file Form 4868 instead to get an additional four months to file, though you must still pay any taxes you estimate you owe to avoid interest and penalties. You will need to file Form 1040 or 1040-SR by October 15. If you're deployed in a combat zone, you may be able to extend your filing deadline further.
• Second Quarter 2024 Estimated Tax Payment Due: Pay the second installment of any estimated tax due.

June 19: Bank & New York Stock Exchange Holiday (Juneteenth)

June 30 FAFSA Filing Deadline: Last chance to apply for federal student aid for 2024–2025.

JULY

Topic: Boost your Budget IQ

Blog 7/1/24: Check Your Allocations

Presentation 7/10/24: Planning for Profit

To do: Midyear is a great time to review your budget. Are you hitting spending and saving targets, and if not, how can you adjust before year’s end?

Bonus: Can you fit in extra contributions to an employer-sponsored retirement account—401(k) or 401(b)—or an individual retirement account?

Important Financial Dates

July 3: Early NYSE Close

July 4: Bank & NYSE Holiday and Major Spending Holiday (Independence Day)

AUGUST

Topic: Get Ahead on College Costs

Blog 8/1/24: Education Expenses

Presentation 8/14/24: Offsetting Education Expenses

To do: Review your options for saving for college—for you, your kids, or perhaps grandkids or relatives. A 529 account, for example, may have state tax benefits, while a Roth IRA can be used for qualified education expenses.

To pay: Did you file for an extension on your taxes? If so, October 15 is your deadline.

SEPTEMBER

Topic: Review your Benefits

Blog 9/2/24 How to Maximize your Benefits

Presentation 9/11/24 Get Your Business Ducks in a Row

To do: Enrollment period for employer benefits typically starts in the fall and lasts four to six weeks. Set a reminder to review your health election, 401(k) or 403(b), and other employee benefits such as life and disability insurance.

To pay: Make third quarter estimated tax payments by September 15 if you’re self-employed or underpaying based on your income.

Important Financial Dates

Sept. 2: Bank and NYSE Holiday (Labor Day)

Sept. 15: Third Quarter 2024 Estimated Tax Payment Due: Pay the third installment of any estimated tax due for the year.

OCTOBER

October: Check Your Credit Score

Blog 10/1/24 Financial Grades for Individuals and Businesses

Presentation 10/9/24 Where to Put Your Profit

With wealth managers in attendance to present on the options available to you.

To do: Set a calendar reminder to review your credit score using one of the three free credit check services: Experian, Equifax, or TransUnion. Then, learn what goes into a credit score and how you can improve yours.

To pay: Streamline your financial to-dos by setting up auto pay on at least one bill.

Important Financial Dates

Oct. 1: First chance to apply for CSS Profile Open Date (non-federal student aid) for 2024–25

Oct. 14: Bank Holiday (Indigenous People's Day)

Oct. 15

• Medicare Open Enrollment: First chance to sign up for the national health insurance program
• Extended Individual Tax Returns Due: If you received a six-month extension to file your 2023 taxes, file Form 1040 or 1040-SR and pay any tax, penalties, or interest that are due.

31: Major Spending Holiday (Halloween)

NOVEMBER

Topic: Add to Emergency Funds

Blog 11/1/24

Presentation 11/13/24 Year End Business Planning

To do: The goal of an emergency fund is three to six months of expenses, which can seem overwhelming. The trick? Starting a little at a time—even $25 a month—and automating it. If you have emergency savings, can you add to them? 

Important Financial Dates

Nov. 1: Opening Day of the federal health insurance marketplace enrollment for 2025 coverage.

Nov. 11: Bank Holiday (Veterans Day)

Nov. 28: Bank and NYSE Holiday (Thanksgiving Day)

Nov. 29

• Early NYSE Close
• Major Discount Shopping Day (Black Friday)

Nov. 30: Major Discount Shopping Day (Small Business Saturday)

DECEMBER

December: Plan for Next Year’s Health Costs

Blog 12/2/24 The Gift of Giving: What is Truly Important

Presentation 12/11/24 The Gift of Giving: How Generosity Can Offset Tax Payments

To do: Enroll or change plans for 2025 federal health coverage by December 15.

To take: The government requires retirees older than 73 to take a minimum distribution (RMDs) annually from retirement accounts by December 31 or the following April 1 for their first RMD, depending on when you turn 73.

Important Financial Dates

Dec 1: FAFSA Open Date, first chance to apply for federal student aid for 2024–25.

Dec. 2: Major Discount Shopping Day (Cyber Monday)

Dec. 7: Medicare Open Enrollment Due Date: Last chance to sign up for the national health insurance program.

9: Discount Shopping Day (Green Monday)

Dec. 21: Discount Shopping Day (Super Saturday)

Dec. 25: Bank and NYSE Holiday (Christmas Day)

Dec. 31

• Last Day to Contribute to Charity for a Tax Deduction
• Last Day for 401(k) Contributions

References

Britannica. "Why Is It Called Black Friday?"

CollegeBoard.org. "CSS Profile."

Days of the Year. "Green Monday."

Department of Labor. "Tips."

Federal Reserve Bank of Chicago. "Chicago Fed Data Release, Beige Book."

Federal Reserve System, Board of Governors. "Beige Book - January 18, 2023."

Federal Reserve System, Board of Governors. "Federal Open Market Committee."

Federal Reserve System. "Federal Open Market Committee."

Federal Reserve System. "Holidays Observed - K.8."

Federal Student Aid. "(GENERAL-23-17) Implementing the 2024-2025 FAFSA Process."

Federal Student Aid. "FAFSA® Deadlines."

Fidelity. "6 Year-End Money Deadlines to Know."

Investopedia. "Personal Finance Calendar."

IRS "IRS: May 15 Deadline Extended to Oct. 16 for Disaster Area Taxpayers in California, Alabama, and Georgia."

IRS. "26 CFR 601.602: Tax Forms and Instructions."

IRS. "401(K) Limit Increases to $23,000 for 2024."

IRS. "Application for Automatic Extension of Time to File U.S. Individual Income Tax Return."

IRS. "HSA Contribution Limits."

IRS. "IRA Year- End Reminders."

IRS. "Retirement Topics — Required Minimum Distributions (RMDs)."

IRS. "Tax Calendars," Pages 3–5.

IRS. "U.S. Citizens and Resident Aliens Abroad."

Medicare.gov. "Joining a Health or Drug Plan."

National Retail Federation. "Holiday and Seasonal Trends."

National Retail Federation. "Record 185 Million Shoppers Expected During Super Saturday."

National Today. "Singles Day - November 11, 2023."

New York Stock Exchange. "Holidays & Trading Hours."

Philadelphia Reserve Bank. "Calendar of Events."

Principal. “Key Dates to Add to Your Financial Calendar.”

Social Security Administration. "Fact Sheet: 2024 Social Security Changes," Page 1.

TurboTax. "Every Tax Deadline You Need To Know."

U.S. Bureau of Labor Statistics. "Employment Situation Summary."

U.S. Bureau of Labor Statistics. "Schedule of Releases for the Employment Situation."

U.S. Small Business Administration. "SBA Initiatives."

University of Texas Permian Basin. "Cyber Monday: The History of America's Largest Shopping Day."

White House. "A Proclamation on National Financial Capability Month, 2021."