Everyone's hoping that 2021 will be a lot different from how 2020 was. But when it comes to your 2021, you know that you need to file your tax return by April 15 2021. In this article, I am putting together some important deadlines to save tax.
- Contribute to Traditional IRA, If the contribution to a traditional IRA is not tax deductible, then contribute to a Roth IRA. Certainly, read threshold limits of traditional IRA and Roth IRA. Follow backdoor IRA strategy, if your income is more than the Roth IRA threshold limit.
- Collect and keep receipts for education related expenses.What are available tax treatments for education related expenses?
- Maximize your contribution to tax-favored accounts for health care and education, such as an HSA and 529 plan.
- Keep receipts for charitable contribution.
- Exemptions from gift and estate tax.
- Avoid short term capital gain and stay away from wash sale transactions
- Track and collect all applicable 1099 forms
- Follow TAX YEAR 2020 : Tax Year 2020 Check List to complete your tax return.
- And follow 2021 tax rules and saving tips to reduce tax simplification and implication.
- TAX YEAR 2021 : IRS Calendar Year 2021
- TAX YEAR 2021 : What are the tax brackets for 2021?
- TAX YEAR 2021 : What's the 2021 tax rate on long-term capital gains and qualified dividends?
- TAX YEAR 2021 : What other tax-favored accounts are available in 2021?
- TAX YEAR 2021 : What are estate taxes in 2021?
- TAX YEAR 2021 : What is the standard deduction for 2021?
- TAX YEAR 2021 : What's changing with popular tax credits in 2021?
- TAX YEAR 2021 : What's changing in retirement tax planning for 2021?