Summer Fun: How will My Tax Returns be Impacted?
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Summer Fun: How will My Tax Returns be Impacted?
Summer is the perfect season to enjoy warm weather and unwind – but your finances don’t get a vacation! While planning your summer activities, it’s important to know what events could affect your tax returns next year.
Tying the Knot (in Tax Terms)
According to a 2025 study by The Knot, summer is the second most popular season for weddings, with the most popular being late summer into early fall (Boswell, 2025). Married couples have the choice to file taxes jointly or separately. You may also choose to share a last name. It one partner makes the name switch, they must report their new surname to the US Social Security Administration and other applicable agencies that need your legal name in full.
Are you and your partner moving in together? Don’t forget to report your new address to the IRS. When tax season rolls around, be prepared to update your address on Form 8822.
Home Improvements and Tax Credits
Home renovation projects commonly take place in the summer months due to more sunlight and better weather. Better yet, the IRS promotes and credits projects that are energy efficient to help our community protect the natural environment and reduce utility costs.
Are you a homeowner and want to revamp your space? You may be eligible for these tax credits:
IRS Resources
It is important to keep in mind that the IRS presents free information about tax returns, updates, and credits for US citizens. However, they don’t provide advisory services unless you qualify for the ‘Taxpayer Advocate Service’ (IRS, 2025). That’s where ATLAS CPAs & Advisors can help – offering expert guidance tailored to your financial situation.
Work Smart, Not Hard
Professions like teaching or winter seasonal jobs leave employees with income gaps in the summer. Some may decide to take on a summer job or side gig to supplement their income. Affected seasonal workers should pay attention to their earnings and all IRS tax updates. Do you work seasonal or side gigs? Consult with a CPA or financial advisor to file your taxes correctly and avoid last-minute surprises.
Traveling for business can take place year-round, but you may be eligible for tax deductions on select transactions. ATLAS recommends that business travelers verify the proper tax deductions with the IRS, your employer, and your CPA or tax professional to get the best benefits.
School’s Out! (For Kids)
The summer months off from school can be difficult for parents who work full-time. While your kids are excited to stay active, they can do so during day camps while you work. The benefit: you may be able to claim these expenses under the Child and Dependent Care Credit to help offset the cost.
These tips are provided by the IRS’s “Tax Tips” email service (IRS, 2025). Interested in more tax tips? Visit IRS.gov to subscribe to their mailing list.