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How Summer Activities Can Impact Your Next Tax Return

Life Events

Did you know, some of the things you did during the summer could influence your next tax return? Explore the connection between summer fun and taxes.

Many people experience changes during the summer. These changes could be big, like getting married, or common summer activities, like sending the kids to summer camp. These activities can also have an impact on how much taxes you will need to pay. Here are a few summer activities and tips on how you should consider filing them during tax season.

  1. Getting Married

    Summer is a love-filled season! If you recently got married, there are a few things you can do to make filing your taxes easier. First, if your name changed, make sure to let the Social Security Administration know. Make sure to also tell your post office, employer, and the IRS about any change in your address. To officially change your address with the IRS, you’ll need to fill out a change of address form.
  2. Sending Your Kids to Summer Camp

    If you sent your child to summer camp this summer, the expense could be eligible for the Child and Dependent Care Credit.

  3. Traveling for Business

    Your kids might have been on break this summer, but you weren’t. If you traveled away from home or your main workplace for work reasons, you might be able to get a tax deduction (even when it’s not summer too).
  4. Home Improvements

    When it’s summertime, many people have a list of things to do around the house. If you made some sizzling summer renovations around your home, you might be able to take advantage of potential tax benefits.

The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its subsidiaries and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.