by JD Miller on May 7, 2015
by JD Miller on May 7, 2015
These are reminders only! Discuss what these dates mean to you with your tax adviser.
April 15, 2018 is the latest date to contribute to your IRA or Roth IRA for 2017.
October 15, 2018 is the extended due date to make your pension or profit sharing plan contribution for 2017 if your business is on a calendar year.
After December 31, 2017, Roth conversions are no longer allowed. Once you make your Roth conversion, it is no longer reversible.
Excess Roth contributions may still be recharacterized to move the excess contribution to a nondeductible IRA. is the latest date to recharacterize your 2017 Roth Conversions.
Your maximum IRA and Roth IRA contribution is $5,500 for 2018.
If you are 50 or older in 2018, you may contribute an additional $1,000 to your IRA and Roth IRA. This means that if you are 50 or older, you can contribute as much as $6,500 to your IRA or your Roth IRA for 2018.
Your maximum 401k, 403b and 457 plan contribution is $18,500 for 2018.
If you are 50 or older in 2018, you may contribute an additional $6,000 to your 401k, 403b and 457 plan. If you are 50 or older, the maximum amount you can contribute to your 401k, 403b and 457 plan for 2017 is now $24,500.
Your maximum SIMPLE plan contribution is $12,500.
If you are 50 or older, you may contribute an additional $3,000 to your SIMPLE plan. If you are 50 or older, the maximum amount you can contribute to your SIMPLE plan for 2018 is $15,500.
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