Tag Archives: Tax Deadline

Short Week – Busiest Wire Day of the Year and Heavy Mail Reminder, Plan Accordingly or Avoidingly – Happy Good Friday!

Posted on April 5, 2023 by | Leave a comment

Reminder that Friday Government offices, and Capital Markets will be closed… Most Banks will have some type of partial hours for Good Friday.

Busiest Wire Day of the Year?

Care to guess which day of the year has more wires of money than any other?

Not surprisingly it is Tax day… Which is Tuesday April 18th this year! While we advocate for an earlier wire than the last minute… many do not…

Word to wise – Stay away if at all possible from moving ANY money near April 18th…. may save some headaches…

Mail is full too

Again, not being huge fans of mailing returns (much better to deposit via IRS website) still a lot of people do…

We cut back on rollovers and other “paper in the mail” (checks especially) from now until after filing day… just to be safe, much like we do near the end of the year for the same reason… yaya, overthinkers and planners – but safe over sorry!

Have a good Wednesday and a Good Friday Holiday.

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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Extended Tax Season Finish Line, New Neat Tracking Site Found … Friday

Posted on June 11, 2021 by | Leave a comment

With an original Mid-March Corporate Tax Deadline, a regular estimated tax (ES 2021) April deadline … a most states extend 1040 to May deadline and then a June Taxes deadline for Texas and a few other states this could have been the longest tax season ever!

Next week marks the final full finish line of this most confusing and marathon like tax filing year. Thank you very much for your collective patience as it was very confusing to all across the country.

Possible New Economic Tracker

Next week we hope to preview another newly found very cool website that can monitor indirectly the economy, this one … unlike our TSA tracker… does not involving airplanes but boats! With a little luck we will get copyright privileges and can show you directly.

Ahhh … but that is next week, today is a Friday heading into an almost summer weekend. As mentioned near Memorial Day, a hope for an Ark …the rain has stopped …it’s still very wet here but slowly drying …some monster mosquitos that can carry small pets away …. But all good!

Have a great Friday a Super Weekend and talk to you next week!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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Posted in Economy, Investing/Financial Planning, Market Comments, Tax Related

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Last Minute Tax Deductions you MUST complete by 12/31 to receive on THIS Year’s tax return!

Posted on December 13, 2017 by | Leave a comment

April Settle up for 2017 taxes is just around the corner. While there a many items that have reach back ability (Contributions can be made next year – 2018 and still help 2017 taxes) what follows are reminders that you MUST make before year end 12/31 to receive a current year (2017) deduction.

Due by 12/31 to Receive 2017 Tax ReliefUncle Sam

  1. Donations to charity – Must be completed this year as it is a same fiscal year deduction
  2. 401k Maxing – Remember to get your maximum deduction for your 401k that you desire – Maximums are currently $18k regular plus $6k over age 50 years young catch up
  3. Medical Expenses – While possibly late for a procedure, supplies, equipment or other medical expenses claimed for 2017 must be completed by 12/31
  4. Gifting of Money – While not a deduction, recall that an annual limit of $14k to each person is available and resets on 1-1 of the following year (Greater gifts will require a gift tax return)
  5. Accelerate Expenses- Never buy just to buy, but if something is needed and it is flexible enough in timing to pull forward, review your expected income this year versus next and see if it makes sense to make that purchase now

Have a Great “Less Taxable April 2018” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

 

 

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Green Light for those that need to File their Taxes – FBAR Reminder, Tax D Day Reminder

Posted on March 23, 2017 by | Leave a comment

We now have the third corrected 1099’s and we are happy to say it looks like the coast is clear.20170324_010525528_iOS

If you have a refund or are in need of filing quickly, this is your “Green light” to file !

Go for it!

Speaking of Taxes…. Some reminders….

Important Date Reminders

FBAR (Foreign Bank and Financial Asset Requirements) those that have control of assets in another country… the new filing date is April 15th….BUT, if you fail to meet this date, according to this IRS statement, a new extension date for six months is being allowed. There was not an extension in the past and this is a moving target as far as we are concerned. If at all possible, file on time, just to be safe.

Given the above date, the ACTUAL filing date for regular filers in the USA this year is April 18, 2017… several holidays are pushing the normal date out.

Confusing…. yes….

Hey it’s a Friday and we still have plenty of time, but don’t let it sneak up on you !

Cheers !

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

 

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Last Minute Tax Issues….We stand ready

Posted on April 12, 2013 by | Leave a comment

This weekend brings the last chance for completion of personal taxes beforePatience the Monday, April 15, 2013 regular filing deadline.  As the level of urgency has increased, financial processing centers across the country have slowed….remember we all need to keep our patience hats on.

Prompt Action is our response to tax issues

For those that have had or may have a tax issue, either personally or by their professional, we attempt to stay ready for quick action especially this week. We have kept our schedules open to accommodate questions quickly even late into the evenings as we know many are burning the midnight oil this time of the year.

Email us this weekend if there is a last-minute tax issue

This weekend we will stay close to our electronic tethers in order to continue our response to any last-minute issues. If we have access to the information we will certainly get it to the appropriate directed party quickly.

Have a great Friday and a super “Masters” weekend!

John Kvale

PS  For those that did not notice, we hardly made a market comment this week…wow it was tough, but we did it, next week…GAME ON…tons to say!

214-706-4300
http://www.jkfinancialinc.com
8222 Douglas Ave # 590
Dallas, TX 75225

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