How Long Do I Have to Make 401k or HSA Contributions on 2019?

When it comes to making 401k or HSA contributions for the year 2019, there are specific deadlines that you need to be aware of in order to maximize your savings and tax benefits.

For 401k contributions:

• The deadline to make contributions to your 401k for the year 2019 is December 31st, 2019.
• Some employers may have an earlier deadline, so it's essential to check with your HR department or plan administrator for the exact date.
• If you miss the deadline, you may still be able to make contributions until the tax-filing deadline in April 2020, but these contributions may not count towards your 2019 tax year.

For HSA contributions:

• The deadline to make contributions to your HSA for the year 2019 is the tax-filing deadline, typically April 15th of the following year.
• You have until the tax-filing deadline to make contributions and have them count towards the previous tax year.

It's crucial to make your 401k and HSA contributions within the respective deadlines to take advantage of the tax benefits and maximize your savings for retirement and healthcare expenses.

Did you know that making contributions to your 401k or HSA by the specified deadlines can significantly enhance your financial health? For 401k contributions, remember that the cut-off is December 31st, 2019, unless your employer has set an earlier date. If you miss this deadline, you might still have a chance to contribute till April 2020, but those contributions won’t count for 2019.

Meanwhile, HSA contributions come with a bit more leeway. You can still make contributions until the tax-filing deadline of April 15th, 2020, and have those count towards your 2019 tax year, making HSAs a flexible option for healthcare savings.