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Tax Season is Here! A Timeline for Tax Filing.




Timeline for Tax Filing. Financial Planner Matt Williams

Are you aware of this year’s tax filing deadlines? Many people miss the essential deadlines for taxes, simply because they aren’t aware of the timing for each. And, as we know, the IRS is not very lenient when it comes to taxes. 


To help navigate tax season with ease, we created a handy tax planning timeline, which can be found below. We also included a tax planning reference guide, so that you can make sure you are prepared ahead of time for next year! 


Ensuring our clients are informed about important tax filing deadlines is vital.


At our firm, we strive to make sure each of our clients is maximizing their tax return. While this is only a small part of a bigger financial picture, it is an important one. 


Our Tax Planning Timeline is carefully crafted to keep you ahead of the game, along with our Tax Planning Reference Guide.


Get your guide here!


JTM Tax Planning Reference Guide (1)
.pdf
Download PDF • 81KB


Here are the maximum allowed tax contributions for 2023: 


  • Traditional IRA/Roth IRA: $6,500 ($7,500 for those age 50 and older) 

  • SIMPLE IRA: (employee elective deferral): $15,500 ($19,000 for those age 50+) 

  • SEP-IRA: Up to the lesser of 25% of self-employed compensation or $66,000 


If you have not already contributed to your retirement accounts, you can do so by Tax Day. Your ability to contribute to the above-mentioned retirement accounts can be limited based on your adjusted gross income and/or participation in employer sponsored plans. 


We advise you to consult with your tax professional to maximize your contributions.


Did you know that retirement plan contributions will be going up this year? Check back soon for more information on the new tax contribution maximums so that you can be well prepared and ahead of the game for filing next year!


As always, for the most accurate and up-to-date information about this year's tax season for your unique needs, schedule a brief meeting with us today by emailing Matt@JTMWilliams.com or call/text 703.782.3110.


JTM Williams has offices in both Alexandria, Virginia, and Bridgeport, West Virginia, and we welcome you to make an appointment to discuss your tax filing and financial picture with us in person. 

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