The new year means a new chance to get your finances in order.
And 2024 shaping up to be a busy one: The likely approval of the very first Bitcoin ETF, potential rate cuts from policymakers, a presidential election. It can be tough to keep everything straight.
We compiled a list of the key dates you need to know so you can have it all in one place. Along with big news events like Federal Reserve meetings, there are also deadlines for retirement contributions and tax filings to consider.
The slow days between Christmas and New Year’s are a good opportunity to get organized. Here’s what you should mark on your calendar:
Jan. 8-10: Potential Bitcoin ETF Decision
Bloomberg Intelligence analysts expect the Securities and Exchange Commission to issue a ruling on spot Bitcoin ETF applicants around this time period. Firms including BlackRock, Invesco, Fidelity and Ark have all submitted applications for an ETF that will hold Bitcoin directly. Proponents of such a product argue that it will make it easier for everyday investors to buy the cryptocurrency. The rally in Bitcoin’s price in 2023 — more than doubling — has been attributed in part to optimism that a Bitcoin ETF will be approved.
Jan. 16: Tax Deadline for Self-Employed
If you’re self-employed, work as a freelancer, or don’t otherwise have taxes withheld from your paycheck throughout the year, your first quarterly estimated tax bill will be Jan. 16, and the following deadlines are April 15, June 17 and Sept. 16.
Jan. 30-31: First Fed Meeting
The Federal Open Market Committee meets for the first time in 2024 on Jan. 30-31. The financial world will closely watch all Fed meetings this year for signs that policymakers will cut interest rates in response to cooling inflation. A Bloomberg survey in early December found that market watchers expect the Fed to lower rates by 100 basis points next year, with the first quarter-point reduction coming in June. The next meetings will be March 19-20, April 30-May 1, June 11-12, July 30-31, Sept. 17-18, Nov. 6-7 and Dec. 17-18.
April 1: Deadline for Withdrawing From an IRA
Retirement accounts such as a traditional IRA, SEP IRA and SIMPLE IRA require account owners to start making withdrawals — called required minimum distributions, or RMDs — by the time they turn either 72 or 73. The age was traditionally 72, but the SECURE 2.0 Act passed last year raised it to 73. If you’re around that age, check to see when you must take RMDs based on your birthday here. The SECURE 2.0 Act eliminated RMDs for qualified employer Roth plan accounts starting in 2024.
April 15: Tax Day
The due date for filing your 2023 tax return is April 15. It’s also the last day to file for an extension if you need more time, which would push the due date back to Oct. 15. You can make the process easier by organizing your tax records now and creating an account at IRS.gov/account. You can also sign up for direct deposit to get your tax refund faster.
April 15: Last Day to Make a 2023 Retirement Contribution
Good news for those who neglected retirement savings this year: You can contribute to your IRA or Roth IRA for the 2023 tax year up until April 15. If you’re under 50, you can contribute a maximum of $6,500 to your IRA or Roth IRA, and those over 50 can contribute $7,500.