BigLaw Financial Planning Calendar 2026

Generic financial planning guides are organized by topic. This one is organized by when. Big Law compensation creates deadlines that generic advice ignores: an NQDC deferral election that locks you in for an entire year, a December 31 bonus cutoff that costs you $165,000 if you resign one day too early, and quarterly estimated tax payments that start the moment you make equity partner. Miss the right window and the option is gone. This calendar maps each decision to the month it belongs in.

Key BigLaw Deadlines at a Glance

Q1: January – March

January: Bonus arrives — fix the withholding gap now

Year-end bonuses announced in November or December are typically paid in January or February. At 2026 Cravath scale, amounts range from $32,000 for first-years to $165,000 for seventh and eighth years.¹ The problem: your firm withholds federal income tax on the bonus payment at the flat 22% supplemental rate (37% above $1 million). If your actual marginal rate is 35–37%, that gap creates an IRS underpayment that accumulates until April. File a revised W-4 in January to adjust withholding on regular salary — or fund Q1 estimated tax proactively if you're an equity partner. See the year-end bonus tax planning guide for the mechanics by city.

For equity partners: Q4 profit-sharing distributions typically arrive in January alongside a preliminary look at year-end K-1 income. Begin organizing K-1 documentation now — some partnerships don't deliver final K-1s until late March, and extension filers won't see them until September. Don't let the delay stop you from estimating Q1 tax by April.

February: Lateral market timing and disability insurance window

February and March are the quietest months of the legal recruiting calendar — ideal for running your own financial analysis before the spring lateral market heats up. If you're a Y6–Y8 associate weighing partnership against an in-house offer, model the numbers before an offer materializes rather than under a 48-hour deadline. Use the BigLaw vs. In-House Income Modeler with your actual class year and city.

February is also a critical window for disability insurance: if you're still in the associate health tier, you can typically add coverage or FPO riders with minimal medical underwriting. Once you develop a repetitive stress injury, chronic condition, or anything in your medical record, coverage becomes more expensive or restricted. See disability insurance for Big Law lawyers.

March: Extension decision for equity partners

If your firm's partnership return (Form 1065) is extended — which is common at large firms — your individual return (Form 1040) will likely need to be extended as well, because your Schedule K-1 won't be finalized before April 15. Filing Form 4868 by April 15 extends your return to October 15. An extension does not extend your time to pay. You must estimate and pay any tax owed by April 15 or face underpayment penalties. Equity partners typically prepay at April based on estimates; true-up after the K-1 arrives.

April 15: Quarterly Deadline + IRA/HSA Prior-Year Last Call

Q1 estimated tax payment due

Equity partners must make quarterly estimated payments under IRC §6654. The Q1 2026 payment is due April 15.² To avoid the underpayment penalty: pay at least 90% of your 2026 tax liability, or 110% of your 2025 tax liability if 2025 AGI exceeded $150,000 (which it almost certainly did). The 110% safe harbor is usually the safer path because you know last year's number; see the quarterly estimated tax guide for the estimator.

Backdoor Roth IRA: final window

You can contribute to a traditional IRA for the prior tax year through April 15. Make a nondeductible contribution ($7,500 if under 50; $8,600 if age 50 or older in 2026³), then convert to Roth. At Big Law income, you are far above the Roth IRA phase-out ($165,000–$180,000 single in 2026), so the backdoor mechanism is the only path. The pro-rata rule applies if you hold any pre-tax IRA funds — roll them into your 401(k) first. See the backdoor Roth IRA guide for Big Law attorneys.

2026 SECURE 2.0 catch-up change: If you're 50 or older and your 2025 W-2 wages from your firm were $150,000 or more, your 401(k) catch-up contributions in 2026 must be designated Roth — not pre-tax.⁴ This applies to essentially all AmLaw attorneys age 50+. If your firm's plan doesn't offer a Roth 401(k) option, you cannot make catch-up contributions at all until the plan adds one. Verify your plan's Roth availability now rather than in December.

Prior-year HSA contribution: last day

If you were enrolled in an HDHP in 2025 and didn't max your HSA, you have until April 15 to make a lump-sum contribution for the prior year. 2025 HSA limits: $4,300 self-only / $8,550 family. Fund via direct contribution to your HSA custodian (payroll doesn't work for prior-year). See the HSA strategy guide for how to deploy the balance as a long-term medical investment account rather than just an annual claims account.

Q2: May – June

May: Partnership track decisions crystallize

Many AmLaw firms announce partnership elections in late spring (with some doing it in fall). If you're a fifth through eighth-year associate, May is the time to run the pre-partnership financial checklist — not after you receive an offer with a 72-hour decision window. Key items: arrange your capital contribution funding before you need it ($200K–$800K+ is typical; the firm's promissory note doesn't arrive until you're about to sign), confirm your disability insurance is sized for partner income, and understand the W-2→K-1 tax transition that hits your first year. See the pre-partnership financial checklist.

Summer associate season also starts in May and June. If you're hosting summers, note that signing a return offer does not guarantee anything — attorneys who defer start dates or rescind after bar results still face the same student loan and financial planning questions. If you're a summer associate, the summer associate financial planning guide covers how to deploy $43,000+ in 10-week earnings efficiently.

June 16: Q2 Estimated Tax Due

The Q2 2026 estimated payment is due June 16.² By now you should have filed your Q1 return or extension, and you have a better sense of whether your income pace is tracking to your prior-year safe harbor. If a large client matter closed in Q1, adjust your Q2 payment upward. Equity partners in variable-income compensation models (eat-what-you-kill) should annualize quarterly rather than rely on prior-year estimates; see the quarterly estimator for the annualized income installment method.

Q3: July – September

July–August: Mid-year financial review

The summer slowdown in Big Law deal flow is a natural time for a financial review. The questions worth addressing:

• Net worth trajectory. Are you on track against the career-stage benchmarks? The mid-year check is a good time to assess whether a major expense (home purchase, capital contribution) changed your trajectory.
• Total portfolio allocation. Your firm capital account, NQDC balance, 401(k), and taxable brokerage are a single portfolio from an asset allocation perspective. Equity partners often find themselves with 60–80% of net worth in fixed-income-like firm capital and illiquid NQDC — the taxable account allocation should compensate. See investment strategy for Big Law attorneys.
• NQDC balance and December election preview. Review your NQDC balance and begin thinking about your December election. If you plan to leave Big Law, go in-house, or move to government in 2027, your NQDC distribution timing is locked by your 2026 election, which is due in December. Don't let this decision arrive as a surprise.
• Lateral market temperature. The fall lateral market runs September–November. If a move is possible, the lateral partner financial analysis guide and exit timing guide should be part of your summer reading.

September 15: Q3 Estimated Tax + Extension Deadline

Two deadlines converge on September 15:²

• Q3 2026 estimated tax payment is due for all equity partners.
• Extended partnership returns (Form 1065) are due September 15 for most law firm partnerships. Once the partnership return is filed, your K-1 should arrive within a few weeks. If your individual return is on extension, you now have the data to prepare it (due October 15).

Q4: October – December (Most Critical Quarter)

October–November: Open Enrollment

Open enrollment is the only window to change health plan elections for the year ahead. Decisions made here affect your tax situation for all of 2027. The highest-stakes choice for Big Law attorneys:

HDHP + HSA vs. PPO. At a 37% federal bracket, every dollar of HSA contribution ($4,400 self-only / $8,750 family for 2026⁵) saves approximately 44–50 cents in combined federal + state tax. The HSA can be invested and grows tax-free; withdrawals for qualified medical expenses are tax-free; and unlike FSAs, the balance rolls over indefinitely and can be treated as a supplemental retirement account at 65. The only reason to choose a PPO over an HDHP is if your family's expected annual medical spending exceeds the premium savings plus HSA tax advantage — model this number explicitly. See HSA strategy for Big Law attorneys.

Dependent Care FSA (DC-FSA). The OBBBA (July 2025) increased the DC-FSA limit from $5,000 to $7,500 per household per year. If you have children under 13, the DC-FSA is pre-tax dollars offsetting childcare expenses you'd pay anyway. The catch: it's use-it-or-lose-it, and household income phase-outs may apply to the dependent care tax credit — verify whether the FSA or the credit is more advantageous for your income level.

Equity partner health coverage transition. Partners who transitioned from W-2 to K-1 need to understand that §162(l) allows self-employed individuals to deduct 100% of health insurance premiums paid for themselves, their spouse, and dependents — but only if not eligible for subsidized coverage through a spouse's employer plan. Partners who are covered under a spouse's employer plan cannot claim §162(l). See law firm partner health insurance guide.

October–November: Year-End Bonus Positioning

Bonus announcements typically begin in October or November, led by Cravath and Davis Polk. Most AmLaw 100 firms follow market within a few weeks. This is the time to verify your firm's bonus eligibility cutoff — most require employment on December 31 of the bonus year, but some firms have shifted the cutoff to the payment date (January–February of the following year). Your offer letter and bonus policy memo control, not market convention. If you have any reason to be leaving the firm in Q4, read these documents before making any announcement. At Cravath scale, waiting through December 31 to resign is worth $32,000–$165,000 depending on class year. See the exit timing guide for a full compensation risk analysis.

~December 15: NQDC Deferral Election Deadline

The December election requires you to answer two questions simultaneously:

1. How much to defer from 2027 income? The tax advantage of deferral depends on your current bracket (likely 35–37%) versus your expected bracket when distributions are paid (potentially 22–24% if you retire, go in-house at a reduced salary, or enter a low-income gap year). A $200,000 deferral taxed at 22% instead of 37% saves $30,000 — per year, per installment. Model your expected bracket at distribution time before committing.
2. When to receive distributions? Most plans allow elections for lump-sum payment or installments (5-year, 10-year schedules are common) beginning at a specified date (e.g., separation from service, age 65, a specific year). The year your NQDC begins distributing stacks on top of whatever other income you have that year — retirement income, capital account returns, Social Security. Stack planning matters.

Use the NQDC deferral optimizer to model the lifetime tax advantage of your deferral election before the deadline arrives. Don't make this decision in a hurry on December 14.

December 31: The Busiest Day on the Tax Calendar

Multiple irrevocable financial events converge on December 31:

401(k) contribution deadline

Elective deferrals to your 401(k) must be made through payroll and reflected on or before December 31. You cannot make a lump-sum 401(k) contribution in January for the prior year (unlike IRAs). If you haven't hit the $24,500 limit ($8,000 catch-up for 50+, but note the Roth requirement above), adjust your payroll election now for December paychecks.³

Year-end bonus cutoff

At most AmLaw firms, you must be employed on December 31 to receive the year-end bonus paid in January or February. If you're planning to resign in Q1, stay through December 31. If your firm has shifted the cutoff to the payment date, verify in writing. See exit timing for the compensation analysis.

Tax-loss harvesting deadline

Capital losses must be realized in the calendar year to offset gains. At a 37% federal bracket plus state taxes, tax-loss harvesting on taxable brokerage positions has a meaningful value. Partners with erratic K-1 income have particular reason to harvest losses in high-income years; the losses carry forward indefinitely but are most valuable when current-year rates are highest. Avoid the wash-sale rule: don't repurchase a substantially identical security within 30 days before or after the sale.

Charitable giving — with 2026 OBBBA changes

The One Big Beautiful Bill Act (July 2025) changed the charitable deduction rules for high earners: a 0.5% AGI floor now applies (deductions above this floor are still fully deductible), and deductions are capped at 35% of the deduction amount for filers in the 37% bracket. If you plan to give significantly, December 31 is the last day to make donations that count for the 2026 tax year. Donating appreciated securities held over 12 months avoids capital gains entirely. See charitable giving strategies for Big Law attorneys.

QCDs for partners age 70½ or older

Qualified charitable distributions (QCDs) from an IRA can be made up to $111,000 per year for individuals 70½ or older (2026 limit). QCDs go directly to charity, count toward your RMD, and are excluded from AGI — which avoids the IRMAA Medicare surcharge that a large charitable deduction via itemizing would not. This window closes December 31.

Q1 of Next Year: January 15 — Q4 Estimated Tax

The Q4 2026 estimated tax payment is due January 15, 2027.² If you file your 2026 return and pay the full balance by January 31, the Q4 payment is waived. In practice, most equity partners make the January 15 payment to avoid the penalty and then settle any remaining balance when the return is filed or extended.

Work with a Specialist

This calendar covers the timing. The decisions behind each deadline — how much to defer into NQDC, whether HDHP beats PPO, when to time a lateral move — require modeling your specific compensation, balance sheet, and tax situation. A generalist advisor won't know the December 15 NQDC deadline exists, let alone how to structure the election.

1. Big Law Investor — Cravath Scale & Bonus Chart 2026. Market bonus scale $32K–$165K by class year.
2. IRS — Estimated Taxes. 2026 quarterly due dates: April 15, June 16, September 15; Q4 January 15, 2027.
3. IRS Notice 2025-67 — 2026 Retirement Plan Limits. 401(k) $24,500; IRA $7,500 (under 50) / $8,600 (50+, $1,100 catch-up); values verified against IRS Rev. Proc. 2025-67.
4. IRS — Final Regulations on Roth Catch-Up Rule (SECURE 2.0 §603). Effective 2026: employees with prior-year W-2 wages ≥$150,000 from the plan sponsor must designate catch-up contributions as Roth.
5. IRS Publication 969 — Health Savings Accounts. 2026 HSA limits: $4,400 self-only, $8,750 family. HDHP minimum deductible: $1,700 self / $3,400 family.

Tax values verified as of June 2026. NQDC election deadlines are plan-specific — confirm with your plan administrator. This page is for informational purposes and does not constitute financial or tax advice.