Hardly a day goes by lately that one of the candidates for President (okay, mostly just one of the them) doesn't do or say something that makes you shake your head. Just this week, the "Donald" got confused and encouraged a group of Florida voters to head to the polls on November 28, only three weeks after the actual election!
To help you avoid being disenfranchised, or worse, here are a couple of important upcoming dates to keep in mind:
Monday, October 17 – There are a number of deadlines next Monday.
Final Deadline for Individual Federal Income Tax Returns: nationwide final deadline for filing an individual federal income tax return for tax year 2015 after having filed for an extension. Extensions also apply to:
- Removal of Excess Contributions and Roth IRA Conversion Recharacterization: last day to remove excess retirement contributions or to recharacterize a Roth IRA conversion from 2015.
- SEP and SIMPLE IRA Contributions: 2015 contributions for Qualified Retirement Plans (QRP), Simplified Employee Pension Individual Retirement Account (SEP IRA), and Employer Savings Incentive Match Plan for Employees (SIMPLE) IRA.
If you have questions about these retirement issues, get in touch today to discuss your situation.
Tuesday, November 8 – Election Day, even in Florida.
Understandably, the election is causing consternation for many of the folks I talk to. Elections add uncertainty, and uncertain markets act, well, uncertainly. We won’t know for sure for a few more weeks, but recent polls have increasingly indicated that the Democrats will keep the White House. Barring a WikiLeaks trove of Hillary’s lost love letters (or emails) from Vladimir Putin, maybe it’s time to look back at some of the items in President Obama’s last budget for clues to what may be coming down the pike and plan accordingly.
For some insight into elections and their impact on markets, the following Issue Brief[i] shows how making investment decisions based on the outcome of presidential elections is unlikely to result in reliable excess returns for investors. At best, any positive outcome will likely be the result of random luck. At worst, it can lead to costly mistakes.