7 Life events that trigger tax changes

Source: Shutterstock

Source: Shutterstock

When life happens, tax changes usually follow.

Some can be a welcome break, others provide more challenges at tax time–but in either case, it helps to look into possible effects to avoid surprises. Getting married, for example, might trigger a tax benefit or a penalty, depending on your incomes, while having a baby entitles you to a few extra deductions and credits.

Visit CNBC.com to see the full slideshow of events that could have a big impact on your Form 1040.