Life changes can create a new tax reality, and the financial impact may be greater than you expect.

In this episode of The About Podcast, Roy Hucke and Jeremy Scott are joined by Lance Larson of CPA Group of the Rockies to discuss how major life events can change your tax filing status and what you can do to prepare.

From filing independently for the first time to navigating divorce or the loss of a spouse, Lance explains why understanding the tax implications early can help reduce surprises and create opportunities for better planning.

In this episode, they discuss:

• What can trigger a change in tax filing status
• Tax considerations for young adults filing independently
• How divorce may affect tax brackets, deductions, and dependents
• What surviving spouses should know about filing status
• Required minimum distributions and inherited accounts
• Social Security benefits following the death of a spouse
• Estate portability, property appraisals, and cost basis
• When to begin working with a CPA
• Why a tax-filing extension does not extend the deadline to pay

Life events are not always predictable, but thoughtful planning can help you feel more prepared for the financial changes that follow.

Learn more about Lance Larson and CPA Group of the Rockies.

If you have questions about how a life change may affect your financial plan, contact the Credentialed Wealth Advisors team. We’re here to help you understand your options and plan your next steps with greater clarity.

Like, subscribe, and share this episode with someone who may be navigating a new tax reality.

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