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.
Summer Weddings: Getting Married Changes Your Filing Status
If you marry this year, the IRS considers you married for the entire tax year as long as your wedding took place by December 31. That means your filing status changes, and you'll need to choose between Married Filing Jointly or Married Filing Separately. Filing jointly often brings more favorable tax brackets and higher thresholds for credits and deductions, but every situation is unique.
It's also important to update your Form W-4 with your employer after marriage. Adjusting your withholding early helps prevent surprises when you report your combined income at tax time.
Summer Travel: Which Expenses Count?
Business travel taken during the summer can be deductible, but only when the primary purpose is directly tied to work. Flights, hotels, and meals may qualify if you keep receipts and clear records. A family road trip that included a single business meeting usually will not.
Employees should note that unreimbursed work travel is not deductible through 2025, since those deductions were suspended. Business owners, however, can continue to claim qualifying expenses.
Home Improvements and Energy Credits
If you upgraded your home this summer, you may be eligible for the Energy Efficient Home Improvement Credit. This credit covers up to $3,200 per year for qualifying projects, including energy-saving windows, doors, insulation, heat pumps, and water heaters. To claim the credit, you'll need to keep documentation of costs and installation dates.
While the credit can make these investments more affordable, it's important to know which improvements qualify and which do not. A CPA can help you sort through the details before filing.
Seasonal and Part-Time Jobs for Students
Teenagers and college students who worked summer jobs may have to file a return. Even if their income falls below the standard deduction, they may want to file if any taxes were withheld from their paychecks. Filing ensures that any refund due is received.
These early work experiences are also a good opportunity to learn about pay stubs, withholdings, and Social Security and Medicare contributions. Helping young workers understand how taxes connect to their earnings can set them up for better financial habits in the future.
Key Summer-to-Fall Tax Moves
- Update your withholding if you got married or changed jobs.
- Keep receipts for energy-efficient home improvements.
- Track business travel costs separately from personal travel spending.
- Encourage young workers to review their pay stubs and file if needed.
- Schedule a tax planning session with a CPA to review your situation.
FAQs
Do I need to change my filing status right away if I get married?
No. Your status is based on your situation on December 31, but updating your W-4 earlier in the year keeps your withholding accurate.
Can I deduct the family vacation if I talked business once or twice?
No. Only travel that is primarily for business and properly documented qualifies for deductions.
Do kids with summer jobs always need to file?
Not always. If their income is below the standard deduction and no taxes were withheld, a return may not be required. Filing is still useful if they are owed a refund.
Get Ahead With Strategic Planning Before Tax Season Arrives
What happens in summer does not stay in summer when it comes to taxes. Marriage, travel, home improvements, and part-time jobs all affect how your return looks in the spring. Thinking ahead now gives you time to gather paperwork, make adjustments, and avoid stress later.
At Myrick CPA, we help individuals and families across the country stay ahead of tax season. If you have experienced any major life events this summer, schedule a consultation today to see how they might shape your return and how smart planning can smooth the way forward.
