Summertime Tax Topics

Summer is officially here, and for some taxpayers, that might bring new tax implications. Newlyweds should contact several agencies to update their information. Parents who send their dependent kids (under age 13) to summer day camp may be able to deduct it as a work-related expense. Taxpayers who work summer or part-time jobs may not earn enough to owe federal tax, but they should still plan to file a tax return. Gig economy workers, such as ride share or delivery drivers need to find out how their work affects their taxes. For example, are they employees or independent contractors who will need to make estimated tax payments? For more details on these topics, click here or reach out to our tax team.