Summer is when most of us have vacations, weddings, and family milestones on our minds, not taxes. Still, though, the choices you make in these months often have a direct effect on next spring's return. As autumn approaches, it's worth looking at a few common summer events that can influence your tax situation and planning ahead before the year closes.
June isn't just a time for soaking up the early summer sun; it's the most popular month for couples to get married. About 10.8% of engaged couples will set a date sometime in June, which edges out August for the most wedding-saturated month of the year. Whether you’re having a small or large ceremony, a reception for 20 or 200, you have likely been making plans for months or even years. In the midst of all the excitement, you probably won’t be thinking about your tax filing status. When tax time rolls around next year, here’s the information you’ll need regarding how tax filing status changes for married couples.