Thursday, June 30, 2016

TAX ASPECTS OF DIVORCE


With a divorce, like any other life event, it is very important to carefully consider the tax consequences.

Do you remember L.A. LAW?  While you would certainly want Arnie Becker as your divorce attorney, you should have the divorce agreement reviewed and approved by Stuart Markowitz before signing it.  If you need a more contemporary cultural reference - you would want David Lee as your divorce attorney, but you should have the final agreement reviewed by Will Gardner before signing it.

It is vital that individuals involved in a divorce proceeding have the agreement carefully reviewed by a tax professional before it is finalized.  Most divorce lawyers are clueless when it comes to taxes.  Using a well-qualified and experienced divorce attorney who knows everything there is to know about divorce law, but diddly-squat about tax law, and not also consulting a tax professional could end up being very expensive.  Tax consequences, both current and future, must be considered and factored into many aspects of the divorce agreement and property settlement.

I have added to my new Dollar Store “Positively Taxes: Tax Aspects of Divorce”, which discusses the tax considerations that must be addressed when writing a divorce agreement and determining property settlement, including who does, and who should, claim any dependent children.  It is available as a pdf email attachment for only $1.00, or in print form sent via postal mail for only $2.00.

Every taxpayer going through a divorce should read this special report before signing any divorce agreement.

Send your check and money order for $1.00 or $2.00, payable to TAXES AND ACCOUNTING, INC, and your email or postal address to –

TAX ASPECTS OF DIVORCE
TAXES AND ACCOUNTING, INC
POST OFFICE BOX A
HAWLEY PA 18428

TTFN
 
 
 
 
 
 
 

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