Happy May Day
! This global holiday celebrating workers is a perfect time to take care of employment related tax tasks. A key one is adjusting your withholding
, especially if you got an unusually big tax refund this year. May 5:
¡Feliz Cinco de Mayo
Before you raise a margarita, check out these five smart, and easy, post-filing tax moves:
1) File your 2014 tax return if you missed the April 15 deadline
2) Get help with that filing you missed or the extension you did request by hiring a tax pro
3) Contribute to your IRA
or workplace retirement plan.
4) Rebalance your portfolio. Selling stock losers and winners
can make a tax difference.
5) Tune up your tax record keeping system
and, if you haven't already, set up one for the 2015 tax year. May 10:
Happy Mother's Day!
Make sure today is a special one for your mom
. And if you're a mother, or about to be, be sure to check out the tax joys of parenthood
If your job includes tips
and you received $20 in tips in April, use Form 4070
to report them today to your employer.May 16:
May's bright spring flowers are very welcome after winter's chill.
The new season also is a great time for spring tax cleaning. Give away clothing and household goods
you no longer use and get a charitable tax deduction. May 23:
If you're hitting the road this long Memorial Day weekend, be on the lookout for bargain gasoline. State, local and federal fuel excise taxes can really ramp up pump prices
. May 30:
The arrival of warmer weather also means home improvement projects, such as the planting of bird-friendly plants
and other projects that can make your home more attractive and pay off on your taxes when you sell
. Small Business Tax Calendar:
Important filing, deposit and record keeping dates
throughout the year that your company needs to know. You also can view the full year's important business tax dates in IRS Pub. 509