Exciting Life Milestones: When Do you Need To Tell Your Accountant?

January 30, 2026

Most people cringe when the topic of taxes comes up. It’s probably the last thing you want to be thinking about when exciting life changes occur like getting married, welcoming a new child into the family, moving to a new home, or starting a new job. However, taking a moment to plan for the tax implications of these big life events can save you time, money, and headache in the long run.

Family Changes

Changes in your family life like marriage, divorce, birth or adoption of a child, or death of a loved one, can all affect your taxes including your filing status and what tax credit or deduction you qualify for.

Your tax filing status determines many things, including your filing requirements, your standard deductions, eligibility for certain credits and deductions, and ultimately how much tax you will need to pay. In some cases, you may qualify for multiple filing statuses, and we can help determine which status will be the most advantageous for your unique situation. So, it’s important to keep your trusted CPA in the loop about life changes throughout the year and not just at tax time.

It's also important to update your CPA about any additions to your family via birth and adoption by providing the new family member's full name and social security number to make sure you take advantage of all deductions associated with your new dependent. 

Financial Changes

Federal taxes generally operate on a pay-as-you-go basis, meaning you need to pay most of your tax due on your income as you earn it. If your personal or financial situation changes significantly during the year, it’s important to check in on your tax withholding or amount of your estimated tax payments to ensure you aren’t overpaying or underpaying your taxes and avoid a big surprise at tax time.

Address Changes

If you have a change of address mid-year, it’s a good idea to update your address on file with the IRS via Form 8822 to ensure you receive any tax notice or paper check refunds to your correct address. Most people find it easy to complete this one-page form on their own, or we would be happy to assist you. Either way, remember to let us know about your new address as well so we send your engagement letter and organizer to the right place at the beginning of the year!

Name Changes

If you have a legal name change, remember to let us know prior to filing your return. If you are in the middle of the process of changing your name, we will need to use your name as it is currently listed with the Social Security Administration at the time of filing.

Good Recordkeeping

Regardless of what life changes come your way, good record keeping will help make it easier to manage come tax time. There are many great options for digital record keeping or good ol’ fashioned paper records in organized folders.

You can check out our previous blog post here for other good recordkeeping tips.