Major life changes can greatly affect your tax situation. This is especially true if you get married or divorced. If you experienced one of these events, be sure to address it with your tax advisor as part of your year-end tax planning. Indeed, your marital status for the entire year is determined as of Dec. 31. If you’re married (or divorced) as of the end of the year, the IRS will treat this as if you were married (or single) all year long. This can affect your tax filing status this year and next. Also, if you’re in the process of divorcing, factor in any tax implications involved in property settlements, alimony and retirement plans. Contact us for other year-end tax considerations. © 2023