Life Changes and Taxes: What to Know When You Get Married, Move, or Have a Child

Life doesn’t stand still—and neither do your taxes. Major milestones can bring joy, opportunity, and sometimes a few unexpected financial surprises. Here are a few common life changes that can affect your tax situation and what to consider for each one:

Marriage or Divorce Getting married or divorced changes your filing status, which can affect deductions and credits. It’s a good idea to review your withholding and update your W-4 so you’re not caught off guard next April.

Moving to a New State If you move across state lines, you may need to file in more than one state for that year. Multi-state returns can be complex, but they’re also a great reason to check your state tax withholdings and plan ahead.

Having or Adopting a Child New dependents often mean eligibility for valuable credits like the Child Tax Credit or Dependent Care Credit. You may also want to review your insurance coverage and start saving for future expenses.

Starting a New Job or Side Business Changes in income—especially from self-employment—can impact estimated tax payments. Setting aside funds throughout the year helps prevent surprises at filing time.

At Custom Business & Tax Solutions, we walk alongside our clients through every season of life. Whether your return is simple or complex, our team is here to help you plan ahead, stay compliant, and feel confident about your financial future.