Monthly Archives: April 2019

REMINDER: 2018 Extension Payments, HSA Contributions and IRA Contributions

TAX RETURNS vs. TAX PAYMENTS:  What is due?

  • Your tax payment is due by April 15th.  Your tax return does not have to be filed by 4/15 as long as we have filed an extension.
  • If we have prepared your taxes in the past, and your taxes are not complete – rest assured, we have filed an extension for you, you do not need to do anything, or sign anything.

** IF YOU OWE TAXES — Your TAX PAYMENT is due by April 15th.  Your filing date can be extended, but not the payment **


EXTENSION PAYMENTS:

If you would like to make a tax payment for April 15th, please contact us ASAP.  We will be happy to help you with this.  If you had a tax review completed by us for 2018, please refer to the notes from that meeting for our instructions on what you will need to do by 4/15.

If you have questions, please email:  darrellynn@mybbd.com.  He can get your questions to your BBD Accountant in Charge.

HEALTH SAVINGS ACCOUNTS (HSA) for 2018HSA Image

  • Funding for 2018:  Your 2018 HSA contribution needs to be funded by 4/15/19.  HSA contributions can not be extended with a personal tax extension.
  • Family Plan:  The max contribution for a family plan is $6,900.
  • Individual Plan:  The max contribution for an individual plan is $3,450.
  • Age 55+:  If you are 55+, you can add an additional $1,000 to your contribution.

NOTE:  Make sure you qualify to make a HSA contribution prior to making a 2018 contribution.

IRA’s and ROTH IRA’s for 2018 – Personal ContributionsIRA - Image

  • IRA Contributions:  The max IRA contribution is $5,500.   If you are 50 and older, you can an additional $1,000.   The IRA must be opened and funded by 4/15/19.  This contribution can not be extended with a personal tax extension.
  • ROTH IRA Contributions:   The max ROTH IRA contribution is $5,500.   If you are 50 and older, you can an additional $1,000.   The IRA must be opened and funded by 4/15/19.  This contribution can not be extended with a personal tax extension.

NOTE The due date of 4/15 DOES NOT apply to SEP’s and 401K contributions.  Those contributions can be extended with the due date of the Personal or Corporation tax return.

2019 Quarterly Estimated Payments

Quarterly estimated payment due dates:myBBDPass - Tax Due2

    • 1st Quarter Payment due on:  04-15-19
    • 2nd Quarter Payment due on: 06-15-19
    • 3rd Quarter Payment due on:  09-16-19
    • 4th Quarter Payment due on:  01-15-20

If your 2018 returns are currently complete, read here:

If we have completed your 2018 tax returns your estimated tax payments have already been calculated. You will need to log in to your myBBDPass account to access this information.

How much do I pay and how do I print my coupons? myBBDPass How To … Access Estimated Payments

Your 2019 Estimated Payments are printed to a separate .pdf file in your myBBDPass account.  For instructions on how to access your Estimated Coupons and Amounts, click here:  myBBDPass How To … Access Estimated Payments

NOTE:  If you have set your payments up for Automatic Withdrawals:

You will not need to mail in a payment.  Your filing instructions will indicate whether you need to write a check or if you are setup for automatic payments. Please note the amount and make sure the funds will be available in your PERSONAL bank account on the due date listed above.

If you have any questions or cannot locate your payment coupons, please email your accountant in charge or generalquestions@mybbd.com.

BBD has NOT completed my 2018 Tax Returns yet:

If your 2018 return is not complete yet, we HAVE NOT calculated your 2019 estimated payments.  If you think you will need to make a tax payment or want to make a payment, please email your accountant in charge or generalquestions@mybbd.com.