Summer Activities and your Tax Returns

ARTICLE | June 16, 2025

Authored by Schlenner Wenner & Co

Summer activities can have significant implications on next year's tax returns. Here's how:

- If you're getting married, it's crucial to report any name changes to the Social Security Administration and your employer. This is to ensure that your name matches your Social Security number, preventing any delays when processing your tax return. Also, any change of address should be notified to the IRS using Form 8822.

- Sending your child to a summer day camp could qualify you for the Child and Dependent Care Credit. This is applicable if you've paid for someone to care for your child while you work or look for work. However, the child must be under 13 years old, and you must have earned income during the tax year.

- If you've taken up a summer side gig, it's important to remember to pay estimated taxes to the IRS, especially if your income isn't subject to withholding. This includes income earned through online marketplaces or payment apps.

- Working a part-time job might not earn you enough income to owe any federal income tax. However, you should still file a tax return to ensure any tax refund is processed as quickly as possible.

- If you've made energy-efficient improvements to your home, you might qualify for tax credits.  These improvements could include installations like water heaters, exterior windows and doors, and heating and air conditioning systems.

- Lastly, if you've filed a tax extension, it's advisable to file your income tax return as soon as possible, ideally during the summer.

Remember, each individual's tax situation may vary, and these tips may not apply to everyone. Always consult with a tax professional for personalized advice.  We're here to help~