This month, we're highlighting important tax deadlines and retirement contribution reminders to help you stay financially prepared. Whether you're planning ahead or making last-minute decisions, these key dates and limits are essential to keep in mind.
2025 TAX FILING DATES TO REMEMBER
April 15: Federal tax filing deadline, unless requesting 6-month extension
October 15: Tax extension deadline IF filing extension by 4/15, you have until 10/15 to finalize returns.
APRIL 15
April 15th is the last day to make contributions to your Roth/traditional IRA for the 2024 tax year. The 2024 contribution limit for IRAs is $7,000 ($8,000 if you’re 50 or older).
OCTOBER 15
October 15th is the last day to make contributions to your self-employment retirement plans for the 2024 tax year.
Tax filer must have timely filed for an extension in April to be granted October 15th deadline.
CONTRIBUTIONS FOR 2025 TAXES
Annual contribution limit for Roth & traditional IRAs are still $7,000 for those under 50, and $8,000 for those 50 and above. To contribute to a Roth IRA, single tax filers must have a modified adjusted gross income (MAGI) of less than $150,000. If married and filing jointly, your joint MAGI must be under $236,000.
Don’t let important deadlines slip by. Use this guide to stay organized and make the most of your retirement contributions for both the 2024 and 2025 tax years. As always, L Hamilton Financial Group is here to help you navigate your financial journey with confidence and clarity. Reach out to us with any questions or to schedule a consultation.