Having a baby? Getting married? Moving for a job? Major life milestones run the gamut of emotions — from thrilling and exciting to scary and sad. These life-changing events are even more unnerving when they’re unexpected, which might cause you to forget about how they’ll impact your taxes.
Major life changes come with a host of tax implications that will impact how you file, your benefits, and the tax bill you might receive. That’s why it’s important to understand how big life events might affect your taxes.
Here is a list of some of the tax changes that you should watch out for should you experience one of these major life milestones, like buying a house or getting a divorce.