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.

The 2024 tax season brings with it a new sense of uncertainty and confusion, which can make it feel even more stressful than usual. Proposed tax law changes from an incoming Presidential administration could include retroactive adjustments, potentially affecting your financial plans for the year. While all of this might seem overwhelming, the right strategies and a proactive approach can help you stay ahead of the curve.

While many routines in life remain consistent, the tax code isn't one of them. Every year brings adjustments, and 2023 is no exception to that rule. Several vital changes, driven by inflation, have impacted everything from tax brackets to retirement contributions, but don’t fret - some of the changes might even be beneficial. Read through to get a clear breakdown of what's new, and the ways in which it will (or will not) affect your tax status this year. If you need expert tax advice or clarification on any of these adjustments, arrange a meeting with your CPA or other professional tax preparer.

The seasons may change, but one thing remains a constant - the inevitability of tax season. Now, as the year winds to a close and the fall leaves have painted the town in shades of amber and gold, it's the perfect time to set the stage for a seamless preparation of next year's tax returns - so start early and you'll find yourself mastering the 2024 tax season.