8 Life Events That Can Change Your Tax Situation

Photo by Vladdeep from Envato Elements

1. You marital status changed since the last time you filed 

No matter if you are single, married, or divorced, your filing status has a big impact on your tax return. Not only does it decide which tax bracket you’re in, but it can also affect the type and of course the amount of tax deductions and credits you qualify for.

However, if you are married and you and your spouse decide to fill jointly, they will typically award you with lower tax rates plus higher deductions.

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