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Life is constantly changing and your tax considerations
change along with it.
When you get married, for example, you might find
you suddenly have additional deduction opportunities. Or perhaps
your spouse's previous financial and tax life will add complications
and cost you when it comes to taxes.
You'll also have to reconsider basic tax decisions
such as your filing status. And if you have children, the tax issues
grow along with your family.
Other lifestyle moves, such as buying a home, starting
your own business or adding to your investment portfolio also have
corresponding tax consequences.
Even the ultimate change, death, doesn't necessarily
offer an escape from taxes.
In this chapter, Bankrate's Tax Basics will examine
some fundamental life changes, what they could mean for your taxes
and ways you can take advantage of various breaks along the way.
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Chapter 5: Life events and taxes
