How are taxes handled next spring for couples who are in the midst of a divorce and unsure if it will be finalized by the end of the year? Various possibilities exist and should be written in the separation agreement to avoid costly mistakes and future disagreements.
The Tax Cut and Jobs Act (TCJA) that went into effect this year for divorcing couples has drastically changed the financial landscape for individuals from prior years. The most significant change is that spousal support (alimony) is no longer deductible if paid or tax...
Your divorce is final, you can finally breathe and start to rebuild. The next item on your to-do list is complying with your agreements and facilitating the division of property. Transferring property can be tricky and sometimes trigger unintended tax consequences....
When dividing assets in divorce individuals, mediators and attorneys alike, tend to focus on the property division spreadsheet. The current values of asset and debt balances determined to be marital are outlined. Typically, above all else, the focus and end goal is t...
When dividing assets in divorce most people, individuals, mediators and attorneys alike, tend to focus on the property division spreadsheet. Current values of assets are listed along with outstanding debt balances that are deemed to be marital. Typically, above all e...
When dividing assets in divorce most people, individuals, mediators and attorneys alike, tend to focus on the property division spreadsheet. Current values of assets are listed along with outstanding debt balances that are deemed to be marital. Typically, above all e...
Currently, alimony is on the chopping block under the Tax Cuts and Jobs Act (TJCA), meaning there would be no deduction provided for the paying spouse and the receiving spouse would no longer have to claim payments as income for divorces finalized after 2017.
Divorce is a tumultuous time where couples race to the finish line. Although the temptation is understandable, it is important to slow down and prevent as many post-decree disputes ahead of time. The following tips will help save a tremendous amount of brain power an...
