Planning Calendar
DECEMBER
Pay your state estimated tax before end of the month.
Plan your contributions and employee expense, many people can maximize deductions by paying every other year
Give appreciated securites instead of cash to charties
Pay for your holiday gifts and expense by check or cash only
A good month to buy a car. Keep your car for seven years
Check status of your retirement accounts. Open a Keogh if self-employed, open an Roth IRA, if you are under 45
Review status of your 401k, contribuite to insure employer contributions
Make cash gifts if appropiate to your estate plan
Open your joint household account, both names on account, pay deductable items from this account.
JANUARY
Check your payroll witholding and submit new W-4 federal and State. A tax refund is an interest free loan to the government
Keep a large envelope with your tax organizer and start to save your tax documents, W-2, K-1, 1098, 1099's. Organization means more deductions. One envelope for each of you
File your federal estimated tax
Get a grip on your bucks! Make a budget, start a record system, like Quicken, Manage Your Money or Check Free
Use your personal finanical software to print all your check. Use preprinted one on a page checks for Ink Jet or Laser. Use direct pay options to pay regular monthly bills
Make your tax appointment before the end of this month. If you use tax software to prepare your returns, have your return prepared at least once every three years, ask for other years to be reviewed.
FEBUARY
Check your mortage rate, refinance if it will save .5% or more
Check your property tax bill, make sure apprasial is not to high
File your tax return as soon as possible, always use a checklist or tax organizer
Review financial aid forms and file on time
Air conditioners and winter clothing are on sale, use cash or check
Plan you summer vacation now, consider a house or apartment swap
MARCH
Start to make mortage payments twice a month
Reduce cost of telephone and on-line charges, shop prices
Change your Keogh and IRA payment to monthly drafts from your checking account
Quit smoking
If your return is not finished by the end of the month, file an extension
APRIL
Fund your IRA, SEP or Keogh on time
Pay your IRA fees with a separate check, it's a deduction
File your extension if return is not finished yet, don't rush yourself or your tax preparer
MAY
Cut vacation costs, make reservations now
Have to move? Do it before June, July or August. These are the most expensive months to move. Don't move at the end of the month, if possiable
Shop the sales and pay with cash or check
Buy and read a copy of "Live Long & Proft". If you own it read it again!
Plan the summer activities for the kids. Yes Gay's and Lesbian's have kids too!
JUNE
Pay your estimate taxes on time
Review all you investments after you read "Live Long & Profit". Include IRA's, Keogh, company pension plans, cafeateria plans
Clean the house and have a yard sale, better, give what you don't need to a Gay thrift shop, keep a list. Sell your uneeded clothing and household goods to the IRS!
Open a Roth IRA for the kids
Make sure the kids who own savings bonds have filed a return and elected to report interest each year. Do it once and the interest is tax free when received.
JULY
Check for last miniute travel bargins or be an air courier
Verify your health insurance will cover you outside of the US
Buy trip insurance for any expensive vacation
Give Savings Bonds for children and newborn children.
AUGUST
File your return before August 15, or get another extension to file
Draw up a school year budget for you and the kids
Shop the sales and pay cash or check
SEPTEMBER
Weatherize your home.
Pay your estimated taxes on time
Review all your employee benifits, don't miss anything you can afford
OCTOBER
Start saving for hoiday gifts, plan on cash or check this year
Organize your finanical information, it's not to late to start a budget or bring your money management software up-to-date
Print a finanical report each month! Your household is one of the most important business in the world
NOVEMBER
Quit smoking, watch what you drink, please play safe
Check your company sponsered dependent-care care and cafeterial plan account. This is a very important tax savings, so it's ok if you don't spend it all
Check those frequent-flyer statements, watch for expiration dates. Never travel on free miles, when it could be a tax deduction, or for emergencies. Donate you excess or unusable milage and get a tax deduction
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