Book Online or Office Meeting with Nicholson Wealth Management Group
2024 NYSE Holidays
New Year's Day
Monday, January 1
Martin Luther King, Jr. Day
Monday, January 15
Washington's Birthday
Monday, February 19
Good Friday
Friday, March 29
Memorial Day
Monday, May 27
Juneteenth National Independence Day
Wednesday, June 19
Independence Day
Thursday, July 4**
Labor Day
Monday, September 2
Thanksgiving Day
Thursday, November 28***
Christmas Day
Wednesday, December 25****
*No holiday observed, pursuant to NYSE Rule 7.2, NYSE American Rule 7.2E, NYSE Arca Rules 7.2-O and 7.2-E, NYSE Chicago Rule 7.2, and NYSE National Rule 7.2. **Each market will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Wednesday, July 3, 2024. Crossing Session orders will be accepted beginning at 1:00 p.m. for continuous executions until 1:30 p.m. on these dates, and NYSE American Equities, NYSE Arca Equities, NYSE Chicago, and NYSE National late trading sessions will close at 5:00 pm. All times are Eastern Time. ***Each market will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Friday, November 29, 2024 (the day after Thanksgiving). Crossing Session orders will be accepted beginning at 1:00 p.m. for continuous executions until 1:30 p.m. on these dates, and NYSE American Equities, NYSE Arca Equities, NYSE Chicago, and NYSE National late trading sessions will close at 5:00 pm. All times are Eastern Time. ****Each market will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Tuesday, December 24, 2024. Crossing Session orders will be accepted beginning at 1:00 p.m. for continuous executions until 1:30 p.m. on this date, and NYSE American Equities, NYSE Arca Equities, NYSE Chicago, and NYSE National late trading sessions will close at 5:00 pm. All times are Eastern Time.
Calendar for IRAS and Retirement Plans
April 1
Last day of grace period for first IRA required minimum distribution for clients who turned 70½ last year
September 30
- Last day for plan sponsors to establish a new SIMPLE IRA - Last day for plan sponsors to issue summary annual reports to participants (or nine months after last day of plan year)
October 15
- Last day to recharacterize a converted IRA from last year
- Last day to contribute to SEP or Keogh for last year if extension was filed (note: contribution must be made before tax return is filed)
Tax Deadlines
Most of the usual tax deadlines fall on a weekday this year, so there are few changes from the standard tax calendar. If you have doubts about anything to do with taxes or the appropriate deadlines, check with a tax advisor.
January 15
Fourth installment of previous year's estimated taxes due. If tax return is filed by Jan. 31, fourth installment can be made at that time.
January 31
1099s must be sent to recipients so they can be checked for accuracy.
February 28
Deadline for submitting 1099s to IRS
April 15
- Tax filing deadline
- Tax returns are due, and balance of tax for previous year must be paid. U.S. citizens working out of the country have an automatic extension to June 15. All others can request an automatic six-month extension to Oct. 15 using Form 4868, although balance of tax is still due on this date.
- First installment of 2017 taxes due (see IRS Publication 505, "Tax Withholding and Estimated Tax")
- Last day to file an amended tax return for 3 years prior.
June 15
Second installment of estimated taxes due. Tax returns due for U.S. citizens working outside the country (may request four-month extension to Oct. 15).
September 15
Third installment of estimated taxes due.
October 15
Tax returns due for those who requested an extension.
December 31
Last day to pay expenses for itemized deductions (items charged on credit cards count, even if paid off later).
Investing and Tax Planning
Tax planning for investments should be a year-round activity, but things come up toward the end of the year.Make sure you and tax advisor review portfolio holdings a good two months or so before these deadlines and think through potential strategies.
October 1
Mutual fund year-end distributions begin.Watch dates and plan purchases around them.
November 30
Last day for doubling up to avoid wash sale rule.
December 31
Last day to sell stock and realize gain/loss.
College Planning
College costs are skyrocketing, and it's foolish to pay more just because of a missed deadline.
January 1 to March 1
FAFSA filing period.Estimated data may be used if all tax information has not been received (early filing is recommended).
April 15
Last day for Coverdell ESA contributions.
December 31
- Last day for college expenses to qualify for Hope or lifetime learning credit; consider prepaying next year's expenses to claim full credit
- Last day for 529 plan contributions and take state tax deduction (if applicable)
Charitable/Gift Planning
It's always best to budget in charitable gifts throughout the year, but year-end tax planning may require some last-minute transactions.
- Establish a Keogh plan for this year (contribution is due by the date tax return is filed or no later than Oct. 15, of the following year, if extension is requested)
- Establish and fund a solo 401(k) for this year
- Complete this year's contributions to employer-sponsored 401(k) plans
- Take this year's required minimum distributions from IRAs
- Correct excess contributions to IRA, Coverdell, and qualified plans to avoid penalty
December 31
- Last day to make tax-deductible contributions to charities
- Last day to make annual tax-free gifts of $17,000 per person