Every tax filing season could come with some serious financial changes. Nothing is certain about taxes and no matter what your efforts might be, you could end up either increasing or decreasing your taxes every single year. This could happen due to some common life events.
“Young adults may get married, start families, buy homes, and many are paying down student loans. As people age, they might have growing medical expenses or maturing retirement investments. All these things have an impact on your taxes,” says Seth Babb, director of consumer product at TaxSlayer.
Read on to discover some life events that could affect your tax situation: