Life Changes That Affect Your Taxes

Marriage, divorce, a new baby, or a new house? Dr. Friday explains how major life events can change your tax return and why planning matters.

Transcript

G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.

We’re always talking about taxes because that’s what I do, but also organizing your taxes. Again, we are between two years where if you haven’t filed your 2024, you still have time, and if you’re getting prepared to file your 2025.

So it’s time to think—is there any kind of tax planning I should be looking at? Is there anything that’s happened new this year? I got married. I got divorced. I had a baby. I purchased a house. Is any of this going to have an effect on your tax return?

If so, are you prepared to know? Because sometimes if you’ve gotten divorced in a year that you are claiming married on your W-2, many times you’re going to owe more money.

So if you’ve got questions, just check us out on the web, drfriday.com.

You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.