TOOLS
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INDIVIDUAL 2008 TAX CALENDAR
- DECEMBER 31, 2007
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- Prepaying expenses to deduct on 2007 return, including
state and local taxes not due until Jan. 15 or even April
15, if appropriate, and taking capital losses to offset
gains.
- Accelerating income into 2008 if you are in a lower tax
bracket this year than you expect to be in next year.
- Establishing a retirement plan for 2007.
- JANUARY 15, 2008
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- Paying final installment of 2007 estimated taxes.
- APRIL 15, 2008
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- Filing individual income tax return (or extension request)
and payment of balance of 2007 taxes.
- Filing gift tax return (or extension request) and payment
of gift tax for 2007 gifts.
- Making 2007 traditional and Roth IRA contributions.
- Making first quarterly estimated tax payment for 2008.
- JUNE 16, 2008
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- Making second quarterly estimated tax payment for 2008.
- JUNE 30, 2008
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- Filing foreign bank accounts report.
- JULY 31, 2008
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- Filing Keogh plan report (Form 5500) or extension request
for 2007.
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- SEPTEMBER 15, 2008
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- Making third quarterly estimated tax payment for 2008.
- Making 2007 money-purchase and defined benefit Keogh plan
contributions.
- OCTOBER 15, 2008
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- Filing 2007 individual income tax return.
- Making 2007 profit-sharing Keogh plan contributions and
SEP contributions if your tax return is on extension.
- DECEMBER 31, 2008
-
- Prepaying expenses to deduct on 2008 return, including
sate and local taxes not due until Jan. 15 or even April
15, if appropriate, and taking capital losses to offset
gains.
- Accelerating income into 2009 if you are in a lower tax
bracket in 2009 than you expect to be in 2008.
- Establishing a Keogh plan for 2008.
- JANUARY 15, 2007
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- Paying final installment of 2008 estimated taxes.
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