43 Life Events That May Affect Your Taxes and Accounting
Your tax professional will ask you about what’s happening in your life, whether in the form of an interview, intake form, or annual tax organizer. Please know they are not being overly nosy! They need to know when life events occur because they often make a difference in how much tax you pay.
It’s usually to your benefit to be forthcoming about major milestones as well as many other activities going on in your life. Tax and accounting experts can find all sorts of tax credits, deductions, and recordkeeping requirements to apply to your situation once you’ve let them know about your life changes.
Here are 43 life events to consider letting your tax preparer and accounting professional in on. In some cases, the initial documents that you need to send them are listed, and they may have a follow-up list for you once they know which event has occurred. They may even want to see the photos!