BARNEGAT, WARETOWN, NJ - For decades, both Barnegat and Waretown hosted tourist trade. Now, both communities have their share of full-time residents. Locals and visitors alike may find some critical information helpful as to what matters when it comes to income taxes.

Summertime activities often affect the tax returns people file the following year. Here are some things taxpayers do during the summer along with tips they should consider now:

  • Getting married.
    Newlyweds should report any name change to the Social Security Administration. They should also report an address change to the United States Postal Service, their employers, and the IRS. This will help make sure they receive documents and other items they will need to file their taxes.
  • Working part-time.
    While summertime and part-time workers may not earn enough to owe federal income tax, they should remember to file a return. They’ll need to file early next year to get a refund for taxes withheld from their checks this year.

    Normally, employees receive a Form W-2, Wage and Tax Statement, from their employer to account for the summer’s work. They’ll use this to prepare their tax return. They should receive the W-2 by January 31 next year. Employees will get a W-2 even if they no longer work for the summertime employer.

    Summertime workers can avoid higher tax bills and lost benefits if they know their correct status. Employers will determine whether the people who work for them are employees or independent contractors.

Independent contractors aren’t subject to withholding, making them responsible for paying their own income taxes plus Social Security and Medicare taxes.

Fortunately, the summer isn't quite over yet. However, recordkeeping is an ongoing process. Those who enjoy time off in the sun should still be aware of tax consequences that could impact their returns.