Life strikes shortly. It’s simple to get distracted. However that may be expensive.
Miss an necessary monetary date or deadline, and you would be on the hook for a penalty or lose out on a limited-time alternative to save cash.
Enter our “Money Calendar” sequence.
On this version, we’ve rounded up the noteworthy cash dates in December 2021. Have a look and mark your calendar with any dates that apply to you.
Dec. 7 — Open enrollment ends for Medicare
The autumn open enrollment interval for Medicare — the federal medical insurance program for seniors and folks with sure disabilities — began Oct. 15 and ends Dec. 7.
Medicare recipients who’ve but to do their open enrollment homework ought to spherical up the next sources ASAP:
- Medicare.gov, the federal authorities’s official Medicare web site
- 2022 “Medicare & You” handbook
- Evidence of Coverage doc
- Plan Annual Notice of Change doc
Dec. 13 — Inexperienced Monday
When you managed to overlook each Black Friday and Cyber Monday, know that you’ll seemingly have one other likelihood to snag a deal on the second Monday of December, aka Inexperienced Monday.
This retail vacation was started by eBay in 2007 as a result of the second Monday of December was traditionally one of many firm’s finest days of the yr for gross sales.
Final yr, massive names like Mattress Bathtub & Past and Goal had been among the many retailers that “celebrated” Inexperienced Monday with gross sales. To be taught what to anticipate from this yr’s Inexperienced Monday gross sales, take a look at “The 6 Best Things to Buy in December — and 3 to Avoid.”
Dec. 15 — Open enrollment deadline for ACA insurance coverage to begin in January
The annual open enrollment interval for Reasonably priced Care Act medical insurance insurance policies began Nov. 1 and ends Jan. 15. However if you’d like your new plan protection to begin on Jan. 1, you need to enroll by Dec. 15. (When you enroll in a plan between Dec. 16 and Jan. 15, your protection will begin Feb. 1 as an alternative.)
When you purchase protection via one of many health insurance marketplaces created by the Reasonably priced Care Act (ACA) of 2010, this era is your alternative to enroll or re-enroll in a plan for 2022.
For extra data, or to use for protection or view plans, go to the federal authorities’s HealthCare.gov website.
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Dec. 26 — Day after Christmas
We’ve seen the day after Christmas grow to be a retail vacation of its personal in latest years, producing gross sales on extra than simply vacation decorations.
So, hold a watch out. And once more, take a look at “The 6 Best Things to Buy in December — and 3 to Avoid” to search out out what forms of purchases to postpone till after Christmas.
Dec. 31 — 5 tax deadlines
April 15 could be probably the most infamous tax deadline, however Dec. 31 brings us extra federal revenue tax deadlines than maybe every other day of the yr.
For instance, Dec. 31 is the deadline to do the next for the 2021 tax yr:
- Contribute to most employer-sponsored retirement accounts.
- Make charitable contributions. Usually, this chance for a tax write-off applies solely to taxpayers who itemize their deductions. However this yr, it’s additionally accessible to an extent to those that take the usual deduction, as we reported in “2 Charitable Tax Breaks Have Been Extended for 2021.”
- Make Roth IRA conversions. This deadline is for changing conventional IRA cash or pre-tax 401(ok) cash to a Roth IRA. You possibly can be taught extra about Roth conversions in “5 Ways Retirees Can Lower Their Income Taxes.”
- Withdraw your first required minimal distribution (RMD). This deadline applies to individuals who turned 72 through the first six months of 2021, Ed Slott & Co. reports. (Those that turned 72 in the latter half of the yr have till April 1, 2022, to make their first RMD on account of quirks in latest federal legal guidelines.)
- Withdraw your annual RMD: This deadline applies to anybody who turned 73 or older in 2021.