If your spouse cheated on a joint tax return filed with you, you may be able to escape liability for any amounts owed to the IRS. If you were unaware that your spouse made misrepresentations on your joint tax return, you can file forms that will allow you to compute your tax separately. If you […]
Unfortunately, most of the fees associated with your divorce are not tax-deductible. However, some portions such as those related to any tax advice related to your divorce are deductible. Fees for Tax advice. The time and fees your attorney charges for any type of tax planning research or advice to you on items related to […]
The advancement or postponement of the date of divorce by a single day at year-end can make a big difference in the amount of your tax bill – waiting could save you thousands of dollars. If you get divorced before the end of the year, even if it’s on December 31st, then you will be […]
Alimony must be reported as taxable income by the person receiving it. Conversely, it is deductible by the payer (child support is not tax deductible). Unfortunately, many people are unaware that they must pay taxes on the alimony and they are hit with a huge tax bill at the end of the year. Make sure […]
I marvel at the number of people that do not consider the tax implications of divorce. One important consideration is the dependency deduction for children. The current tax exemption amount for each dependent child is $3,200. For someone in the 31% tax bracket, this will save him or her over $1000 in taxes. In addition […]
Experienced Divorce Attorney You have a lot to lose if you do not have a skilled divorce lawyer on your side. At the Shaw Group, P.C., we recognize that a divorce or family law matter is one of the most difficult life challenges that you may face. The resolution of your divorce case will have […]
