Home » Tax Tips for Maximizing Health Insurance Benefits and Tax Deadlines for Businesses 2024
February 2, 2024
Lyceum Insurance Services

Tax Tips for Maximizing Health Insurance Benefits and Tax Deadlines for Businesses 2024

Making sure you file your taxes is key in the United States. For the 2023 year, taxes are due April 15 unless you file an extension. While this is one of the most important deadlines within the tax season, there are other dates that hold equal importance. 

For employees, retirees, self-employed individuals, etc;

  • January 16, 2024 – 4th Quarter estimated tax payment due
  • January 31, 2024 – Employers must send W-2s
  • February 15, 2024 – Reclaim your tax exemption from withholding
  • April 15, 2024 – Tax Day (unless extended due to local/state holiday). Deadline to make IRA and HSA contributions for the 2024 tax year. First quarter estimated tax payment due. 
  • June 17, 2024 – Second quarter 2024 estimated tax payment due
  • September 16, 2024 – Third quarter 2024 quarter tax payment due 
  • October 15, 2024 – Deadline to file your extended 2023 tax return
  • January 15, 2025 – Fourth quarter 2024 estimated tax payment due


For businesses (LLCs, C Corps, S Corps);

  • January 15, 2024 – 4th Quarter 2023 estimated tax payment due
  • January 31, 2024 – Employers send W-2s forms to employees
  • January 31, 2024 – Send certain 1099 forms
  • March 15, 2024 – Taxes are due for some business types (partnerships, multi-member LLCs, and S-Corporations)


Navigating health insurance can be as perplexing as understanding tax codes. Here are some terms for you to understand to help maximize your health insurance benefits. There are two main types of health insurance: group health insurance, obtained through an employer, and individual health insurance, purchased independently by individuals or families. Key terms include the ‘Participant’ (healthcare provider), ‘Insurer/Carrier’ (insurance company), ‘Policy Holder’ (one who buys the insurance), and the ‘Insured’ (the person covered). Understanding costs is crucial: the ‘Premium’ is the regular payment for coverage; the ‘Deductible’ is what you pay before insurance starts paying, which doesn’t always cover preventive care; the ‘Co-payment’ is a fixed cost for a specific service; ‘Coinsurance’ is your portion of a service cost; and the ‘Out-of-Pocket Maximum’ caps your annual healthcare expenses, excluding premiums. Grasping these concepts is key to selecting an appropriate health plan and efficiently managing your healthcare finances.

Understanding these tax deadlines is important both personally and professionally. You have the ability to file for extensions, and if you miss a deadline you still have options. We know tax season is complicated, whether filing yourself or using a CPA. For more information on any question you might have regarding the upcoming tax season or health benefits contact us today! 

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