Hey there, sunshine lovers! ☀️ Summer is all about fun, but did you know some of your sunny adventures could affect your taxes? Let’s dive into the coolest tips on how your summer activities might make a splash in your next tax return. 🌊💸
Tying the Knot 💍
Love is in the air! If you’re saying “I do” this summer, here are two easy steps to keep your tax game strong:
Name Change Alert: If you’re changing your last name, give a shout-out to the Social Security Administration.
Address Update: Moving to a new love nest? Let the United States Postal Service, your employers, and the IRS know. Use Form 8822 for the IRS—check out page 2 for the deets.
Kids Off to Summer Camp 🏕️
Sending the little ones to camp? Those costs might just help you snag the Child and Dependent Care Credit. Yay for tax savings while the kids have a blast!
Business Trips on the Go ✈️
Even if it’s summer, business doesn’t stop. If you’re jet-setting for work, keep those receipts. Certain travel expenses can be tax-deductible, whether you’re away for a couple of nights or the whole summer.
Part-Time Summer Hustles 🌟
Summer jobs aren’t just for pocket money—they can mean tax refunds too! Even if you don’t earn enough to owe federal taxes, filing a return could get you some cash back. Head to IRS.gov to see if you should file.
Got a summer side hustle or gig work? Visit the Gig Economy Tax Center on IRS.gov to learn how it impacts your taxes. If you’re getting paid through apps, keep an eye out for IRS Form 1099-K.
Home Sweet Home Improvements 🛠️
Planning some home upgrades? The IRS has got your back with tax credits for energy-efficient improvements. Make these changes after January 1, 2023, and you could qualify for up to $3,200 in credits through 2032!
Cool Upgrades That Qualify:
Energy Efficient Home Improvement Credits: Think water heaters, new windows, doors, and HVAC systems.
Residential Clean Energy Credits: Solar panels, fuel cells, and geothermal systems can earn you credits too.
Swing by the Home Energy Tax Credits page on IRS.gov for all the juicy details.
Get More Info 📚
Need step-by-step guides? Check these out:
- Energy Efficient Home Improvements
- Home Energy Audit
- Residential Energy Property
Make your summer unforgettable and financially savvy! For more personalized advice, reach out to us at Taxinger . We’re here to keep your finances cool all year long. 😎💼
Taxinger LLC
Your tax experts, making taxes as easy as a summer breeze. Contact us today to learn how we can help you navigate your tax journey effortlessly.
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