How to Make an April Personal Finance Calendar

Managing your personal finances is an ongoing process that requires discipline. Most people are successful at making sure the bills get paid and often saving a little on a regular basis. However, managing your finances effectively is more than just handling the daily or monthly tasks. Here is a monthly calendar for April that can serve as a guide to addressing some of these other issues.

April Financial To-Do's

Be sure your tax returns are filed.

• You can file for an extension if you need more time to complete your return.
• Filing for an extension does not delay when you may need to pay the amount due.
• If you make quarterly estimated income tax payments, be sure to include them in your cash flow or budgeting process.
• You may want to prepare or update a schedule of some of the major items found on your last several tax returns. This could include total income, adjusted gross income, itemized deductions, regular income tax and other taxes like AMT or the net investment income tax. Understanding your tax situation better may help you identify where there are opportunities for saving.

Dispose of tax information that is no longer needed.

• The IRS has three years to begin an audit unless you do not report all your income or file a fraudulent return.
• You generally only need information for three years from the due date of the return when you report the information.
• It is probably advisable to keep copies of your tax returns forever.

The suggestions on this calendar may not match your personal financial schedule. However, it can serve as a reminder to make sure you address important issues.

If you’re interested in speaking to someone at a Sunflower Bank or First National 1870 location near you to discuss your personal finances, visit our Branch Locator page or Wealth Management Team page, to find the right financial partner to address your financial needs.

This article contains general information only. Sunflower Bank and First National 1870 are not, by means of this article, rendering accounting, financial, investment, legal, tax, or other professional advice or services. We suggest you consult your personal tax or legal advisor before making tax or legal-related investment decisions.