Summer's Here — and So Are a Few Tax Moves Worth Making Now
TAX STRATEGY & PLANNING | SUMMER INSIGHTS
Summer’s Here — and So Are a Few Tax Moves Worth Making Now
Nobody's thinking about taxes when the sun's out and the calendar's full. We get it. But a few of the most ordinary summer happenings — a wedding, a camp drop-off, a side hustle that's finally taking off — quietly shape what next filing season looks like. A little awareness now means fewer surprises later, and more of your money staying where it belongs.
Here are five summer moments worth a second glance.
When Life Happens
· Summer day camp. If you're sending a child to day camp so you can work, that cost may count toward the Child and Dependent Care Credit. Overnight camp doesn't qualify — but day camp often does. Keep those receipts.
· Saying "I do." Summer is peak wedding season, and newlyweds can make next spring far simpler with two quick steps now: report any name change to the Social Security Administration, and notify the Postal Service, your employer, and the IRS of a new address. To update your address with the IRS officially, file Form 8822, Change of Address (instructions are on page 2).
When Summer Pays
· A first or seasonal job. Seasonal and part-time workers often don't earn enough to owe federal income tax — but it's still worth filing next season to claim any refund that's owed. Not sure? The IRS breaks down who should file a return.
· A side hustle or gig. Driving, reselling, freelancing, renting — summer income from gig and platform work is taxable, and worth tracking from day one. The Gig Economy Tax Center is a solid starting point. And if you're paid through apps like PayPal or Venmo for goods and services, you may receive a Form 1099-K. One bit of good news: the reporting threshold for 2026 remains at more than $20,000 and over 200 transactions — the much-talked-about $600 rule was repealed. Either way, all income is reportable, 1099 or not, so clean records still matter.
· Business travel. Most kids get the summer off — most business owners don't. If you travel away from your tax home for work, certain costs may be deductible whether you're gone a few nights or all season. Here are the business travel rules to keep in mind.
The Bottom Line
Summer is for living — not for stressing about April. But a few small moves now (a saved receipt, an updated address, a tidy record of side income) are exactly the kind of proactive planning that protects your profits and buys you peace of mind down the road.
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Questions about how any of this applies to your situation? That's what we're here for. Reach out anytime at hello@hfinsolutions.com or 312-899-6740. |
Hill Financial Solutions LLC | Tax Strategy & Professional Bookkeeping
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Disclaimer: This article is provided by Hill Financial Solutions LLC for general educational and informational purposes only. It is not legal, tax, accounting, or financial advice, and it does not create a client, advisor, or professional relationship of any kind. Tax law is complex, fact-specific, and subject to change; the figures, thresholds, and provisions described here reflect federal law and IRS guidance as understood as of June 2026 and are subject to future inflation adjustments, legislation, and regulatory change. We make no representation or warranty as to the accuracy, completeness, or current applicability of any information herein. Every situation is different — before acting on anything discussed here, consult a licensed professional, such as an Enrolled Agent or CPA, about your specific circumstances. Any reliance on this information is solely at your own risk. © 2026 Hill Financial Solutions LLC.
