December 31, 2011 is the last day to make your 401K contribution that will count toward tax year 2011. Check if you have reached the maximum amount you can contribute to 401K, which is $16,500, or $22,000 if you are 50 or older.
April 1, 2012 is the last day to take the first required minimum distribution (RMD), if you turned age 70 1/2 in 2011. However, if you delay your first required distribution until April next year, you will then have to take two distributions in the same year because the second distribution will be due on December 31. Taking two distributions in the same year may bump you up into a higher tax bracket, resulting a large tax bill.
April 17, 2012 is the last day to fund your IRA for 2011 tax year. When you fund your IRA in 2012, please make sure you specify which tax year it is for. You can file your tax return claiming the IRA contribution for 2011 before the money is deposited.
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