Finance

Key Financial Reminders to Add to Your Calendar Starting Today

Planning for the future can be a stressful and challenging process. There are so many events and deadlines to keep track of, and when it comes to personal finances, missing an important date could cost you, which is why we designed this calendar to help you stay organized. Check out this calendar for important financial dates to remember.

January 10, 2022

Key Financial Reminders to Add to Your Calendar Starting Today

It’s a known fact.

A personal financial calendar is imperative. It’s most important role, aside from keeping track of days when you might be able to save money, is to keep you from spending more than you need to and not to mention for the organization benefits, any “To Do listers”, here? It sure does help, right! 

Making long term plans may be a stressful and difficult task (especially in 2022, sigh).

There are so many events and deadlines to keep track of, and when it comes to personal finances, missing an important date could literally cost you. Obviously, attempting to recall all of this in your head while also trying to remember work deadlines, baseball schedules, recitals and not to mention all that’s going on in today’s world is not the most efficient technique.

We are here to take that stress off of you. We've created a list of important financial dates for 2022 that you should be aware of - we handle the rest!

Before we dive in, there are some changes that should be noted, for example, such as Social Security and retirement accounts, that went into effect at the start of the year may have an impact on how much you can save for retirement or what type of budget you'll have to work with in retirement. Also, the majority of bank and stock market holidays fall on national holidays. As a result, even if they don't observe the holidays in issue, investors should make note of them.

Here are a list of dates you should be aware of for the rest of 2022

APRIL 2022

  • April 1: Employment Situation Report (March).
  • April 11: Employees Who Work for Tips Reporting Due Date (for March 2021): "If you received $20 or more in tips during March, report them to your employer."
  • April 15: Tax Day! : First Quarter 2022 Estimated Tax Payment Due: "If you’re not paying your 2022 income tax through withholding (or won't pay in enough tax during the year that way), pay the first installment of your 2021 estimated tax.", 529 Plan State Income Tax Deduction Due (Georgia, Mississippi, Oklahoma, South Carolina, and Wisconsin): Last day to claim a 529 plan deduction in these six states and the NYSE Holiday (Good Friday).
  • April 17: Major Spending Holiday (Easter).
  • April 18: Tax Day! - Individual Tax Returns Due for Tax Year 2021: File a 2020 Form 1040 or Form 1040-SR and pay any tax due, Individual Tax Return Extension Form Due for Tax Year 2021: If you want an automatic six-month extension to file the return, file Form 4868 and pay what you estimate you owe in tax to avoid penalties and interest, Last Day to Make a 2021 IRA Contribution: Contributions to an IRA must be made by this date unless a six-month extension is applied, pushing the deadline to Oct. 15, 2022 and the due date to file 2021 tax return or request extension and pay tax owed due to the Emancipation Day holiday in Washington, D.C., also for those who live outside the area.
  • April 19- Beige Book Release (April), and due date to file 2021 tax return or request extension and pay tax owed for those who live in Massachusetts or Maine due to the Patriots' Day holiday.
  • April 30: 529 Plan State Income Tax Deduction Due (Iowa): Last day to claim a 529 plan deduction in this state.

MAY 2022

  • May 3–4: FOMC Meeting (April).
  • May 6: Employment Situation Report (April).
  • May 8: Major Spending Holiday (Mother's Day).
  • May 10: Employees Who Work for Tips Reporting Due Date (for April 2021): "If you received $20 or more in tips during April, report them to your employer."
  • May 30: Bank and NYSE Holiday (Memorial Day).
  • May 31: Beige Book Release (June). 

*Reminder- In the month of May it's not too late to start looking into potential scholarships for your college-bound kids. The College Board’s Scholarship Search is a treasure trove of information on more than 2,200 opportunities offering upwards of $6 billion in financial aid annually.

JUNE 2022

  • June 3: Employment Situation Report (May).
  • June 10: Employees Who Work for Tips Reporting Due Date (for May 2022): "If you received $20 or more in tips during May, report them to your employer."
  • June 15: Individual Filing Date for U.S. Residents Abroad: If you're a U.S. citizen or resident alien living and working (or on military duty) outside the United States and Puerto Rico, file Form 1040 or Form 1040-SR and pay any tax, interest, and penalties due. Otherwise, see April 15, earlier. If you want additional time to file your return, file Form 4868 to obtain four additional months to file and pay what you estimate you owe in tax to avoid penalties and interest. Then, file Form 1040 or Form 1040-SR by October 15. If you're a participant in a combat zone, you may be able to further extend the filing deadline. Second Quarter 2022 Estimated Tax Payment Due: "Make a payment of your 2022 estimated tax if you’re not paying your income tax for the year through withholding. 
  • June 14–15: FOMC Meeting (June).
  • June 19: Major Spending Holiday (Father's Day).
  • June 20: Bank Holiday (Juneteenth Observed)

JULY 2022

  • July 4: Bank and NYSE Holiday and Major Spending Holiday (Independence Day).
  • July 8: Employment Situation Report (June).
  • July 11: Employees Who Work for Tips Reporting Due Date (for June 2022): "If you received $20 or more in tips during June, report them to your employer.
  • July 12: Beige Book Release (July).
  • July 26–27: FOMC Meeting (July).

*Reminder: Hang onto your day-camp expenses for children. These might — subject to the fate of income tax legislation — might be deductible.

AUGUST 2022

  • August 5th : Employment Situation Report (July).
  • August 10th: Employees Who Work for Tips Reporting Due Date (for July 2022): "If you received $20 or more in tips during July, report them to your employer."

SEPTEMBER 2022

  • September 2nd: Employment Situation Report (August).
  • September 5th: Bank and NYSE Holiday (Labor Day).
  • September 6th: Beige Book Release (September).
  • September 12th: Employees Who Work for Tips Reporting Due Date (for August 2021): "If you received $20 or more in tips during August, report them to your employer."
  • September 15th: Third Quarter 2022 Estimated Tax Payment Due: "Make a payment of your 2022 estimated tax if you’re not paying your income tax for the year through withholding (or won't pay enough tax that way)."
  • September 20th –21st: FOMC Meeting (September).

Please note: As of Sept. 30, 2021, the Centers for Medicare & Medicaid Services announced that Medicare Part D coverage (prescription drugs) will cost an average of $33 per month in 2022 versus $31.47 per month in 2021. For those enrolled in a Medicare Advantage plan, the average premium in 2022 will be $19 per month, versus $21.22 in 2021

At the end of the automotive model year is usually in September, so it's a fantastic time to get a good price on a new automobile. Dealers are keen to move stock that is approaching its one-year anniversary.

October 2022

  • October 10: Bank Holiday (Indigenous People's Day).
  • October 11: Employees Who Work for Tips Reporting Due Date (for September 2022): "If you received $20 or more in tips during September, report them to your employer."
  • October 15: Extended Individual Tax Returns Due: "If you have an automatic six-month extension to file your income tax return for 2021, file Form 1040 or Form 1040-SR and pay any tax, interest, and penalties due and Medicare Open Enrollment: First chance to sign up for the national health insurance program.
  • October 17: Due date to file for those requesting an extension on their 2021 tax returns.
  • October 18: Beige Book Release (October).

NOVEMBER 2022

  • November 1st: Affordable Care Act Open Enrollment Period: First chance to apply for 2023 healthcare coverage.
  • November 1st–2nd: FOMC Meeting (November).
  • November 4th: Employment Situation Report (October).
  • November 10th: Employees Who Work for Tips Reporting Due Date (for October 2022): "If you received $20 or more in tips during October, report them to your employer. You can use Form 4070."
  • November 11th: Bank Holiday (Veterans Day) and Major Discount Shopping Day (Singles' Day).
  • November 24th: Bank and NYSE Holiday (Thanksgiving Day).
  • November 25th: Early NYSE Close and Major Discount Shopping Day (Black Friday).
  • November 26th: Major Discount Shopping Day (Small Business Saturday).
  • November 28th: Major Discount Shopping Day (Cyber Monday).
  • November 29th: Beige Book Release (December).

DECEMBER 2022

  • December 2nd: Employment Situation Report (November).
  • December 7th: Medicare Open Enrollment Due Date: Last chance to sign up for the national health insurance program.
  • December 12th: Employees Who Work for Tips Reporting Due Date (for November 2022): "If you received $20 or more in tips during November, report them to your employer and Major Discount Shopping Day (Green Monday).
  • December 13th –14th: FOMC Meeting (December).
  • December 15th: Affordable Care Act Open Enrollment Due Date: Last chance to sign up for 2023 healthcare.
  • December 26th: Bank and NYSE Holiday (Christmas Day Observed).
  • December 25th: Bank and NYSE Holiday (Christmas Day).
  • December 31st: Last Day to Contribute to Charity for a Tax Deduction, the last day for 401(k) contributions, 529 Plan State Income Tax Deduction Due: The last day to claim a 529 plan deduction in 28 states plus the District of Columbia and the Residential Energy Property Tax Provision Expires: Expiration of the credit for individuals for residences with renewable-energy properties, such as solar panels.

Don’t want to miss out on these dates? We got you! Click here to get these monthly dates sent to your inbox each month.

Other Dates That Will Save You Big Bucks

Life Events:

  • The best time to get married is at the start of the year.
  • Winter is the best time to rent a home (December to March).
  • March through August is the best period to sell a car.

Lifestyle:

  • The best time to travel is during the off-season or shoulder season. (Airfares are typically cheaper on weekdays).
  • Spring (March/April) and fall (September/October) are the best months to lock in a fixed utility monthly price.
  • Minimum distributions are payable if you turn 72 this year.

We hope this took your organization skills to the next level! 

If you have any questions or are interested in creating a plan that can minimize taxes to help you reach your retirement goals, please do not hesitate to reach out. 

We would love to help you accomplish those goals!

Click here to schedule a call with us. 

See you next time!

Your Money. Your Life.

Vincere helps you live your ideal lifestyle by providing financial planning and investment advice that helps you pursue your passion and achieve a "Work Optional" Lifestyle.

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