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Article Category: Tax Aspects
Top choices for this category:
- How Income Taxes Affect Property Settlements
- Tax Issues in Divorce
- The House-What Happens in Divorce-Don't Ignore the Tax Consequesnces
Divorce & Money: How to Make the Best Financial Decisions During Divorce
Fairshare Divorce for Women
Recommended Book: Year 2006 Child Custody Strategies for Men and Women: Two of America's most famous custody specialists have used their 30 years of training and experience to put together a book of custody strategies that a parent can easily put into action.
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Full Article List: Tax Aspects
"Spousal Support Payments Can Be Tax Deductible" - If properly structured in a Separation Agreement or Divorce Decree, spousal support payments or alimony payable to a former spouse under the Internal Revenue Code will be taxable to the payee and deductible by the payor. The payments must be by check, money order, or cash, pursuant to a divorce or Separation Agreement signed by the parties...
"Divorce and Retirement Assets: Getting the Money Without Getting the 10% IRS Penalty Tax" - People getting divorced often need more cash than is readily available. There may be one-time expenses related to the transition, such as making a down payment on a new house or paying attorney¹s fees. There also may be an ongoing need for more cash flow after the divorce than one¹s salary, child support, and/or alimony can provide...
"How Income Taxes Affect Property Settlements" - Almost all divorce property settlements are affected by current or deferred income tax liabilities. The court can consider tax liability issues in two ways...
"'Til Taxes Do Us Part...Recent Developments in the Innocent Spouse Rule" - Upon separation or divorce one spouse, presumably the wife for the purposes of this article, may not be aware of the incorrect tax reporting or underpayment of tax by the other spouse. For example, tax may be due on the husband's self-employment income...
"Unreported Income and Hidden Assets" - Unreported income and hidden assets are often alleged in divorce proceedings, with the spouse who is not running the business claiming that unreported income should increase both the spousal support award and the valuation of the family business...
"Tax Issues in Divorce" - 1. If spousal support is paid to one party by Court order or written agreement, such amounts are taxable income to that party and the amount ofsuch payments are deductible for tax purposes from the income of the payingparty...
"Innocent Spouse Relief Under Internal Revenue Code Section 6013(E)(1)" - Most family practitioners are aware that if a spouse involved in a divorce is self-employed, a corporate officer with a controlling interest in a small corporation or a partner in a professional partnership, income may not be accurately disclosed on his or her financial affidavit...
"The Taxpayer Relief Act of 1997" - On August 5, 1997, President Clinton signed the Taxpayer Relief Act of 1997 into law. We suggest that you don't make any major financial decisions before reading this article and following-up on the particular areas that might impact you...
"The House-What Happens in Divorce-Don't Ignore the Tax Consequesnces" - Following child custody, no issue seems to cause more emotional trauma to people getting divorces than what happens to "The House." However, many people make significant financial mistakes in dealing with the house that can prove expensive. Hopefully, after reading this article, you will be able to evaluate the various alternatives a little more intelligently...
"The Tax Aspects of Divorce" - It is strongly recommended that before any settlement agreement is finalized, that the parties consult with a tax attorney or tax accountant to review the tax consequences of the agreement. This article is not meant to be a complete analysis of the Internal Revenue Code, but a general outline of some of the tax ramifications of divorce and separation.
Related Articles and Categories:
Taxes & Divorce - Tax consequences follow every decision made in a divorce, settlement agreement, or marital dispute resolution, often for many years. Whether there is a divorce, annulment, separate maintenance agreement, or dissolution, taxes need to be considered in making informed choices.
Divorce Dollars & Debt - Tax consequences follow every decision made in a divorce, settlement agreement, or marital dispute resolution, often for many years. Whether there is a divorce, annulment, separate maintenance agreement, or dissolution, taxes need to be considered in making informed choices.
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Tax Information in The Research Center: Access to some research documents (those we license from independent legal research companies) are restricted to subscribers. In order to gain access to ALL of these documents, you must subscribe to establish an account. If you are already a subscriber, you may sign in before you begin your research. (Why Subscribe?)
Additional Taxes & Financial Resources and Links:
CURRENT DOWNLOAD MANUAL - What Happens to the Marital Home
CURRENT DOWNLOAD MANUAL - Valuation of Businesses in Divorce Cases
CURRENT DOWNLOAD MANUAL - Identification and Division of Dissipated Marital Assets
CURRENT DOWNLOAD MANUAL - Identifying Unusual Types of Divisible Property
CURRENT DOWNLOAD MANUAL - Division of Intellectual Property Interest Upon Divorce
CURRENT DOWNLOAD MANUAL - Tracing Separate Property Through A Commingled Bank Account
CURRENT DOWNLOAD MANUAL - Domestic Violence & Distributing Property Upon Divorce
CURRENT DOWNLOAD MANUAL - Equitable Distribution of Stock Options
CURRENT DOWNLOAD MANUAL - Equitable Distribution of Lottery Winnings
CURRENT DOWNLOAD MANUAL - The Effect of Bankruptcy During Divorce
Pension Issues & Divorce
- Ships in 24 hours or Download Format
This book presents basic information about the pension rights of women upon divorce. It is meant to answer the questions women going through divorce most frequently ask about pensions. The book is aimed at divorcing women because they have been more likely than men to lose out on retirement benefits after a marriage ends.
Pension Appraisers, Inc./ Paperback
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The Spousal Support Handbook
- Ships in 24 hours or Download Format
This book is an excellent resource for anyone who is, or may be, paying or receiving spousal support (alimony). Spousal support is one of many issues that is often difficult for spouses to agree upon. Before negotiating and even signing an agreement regarding spousal support it is very important that you understand your rights and the repercussions of any actions taken..
Divorce Source, Inc./ 3 Ring Binder
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The Property Division Handbook
- Ships in 24 hours or Download Format
This book will explain in detail the property distribution aspect of divorce and separation. It will focus on the rights each spouse has under certain laws, situations, and circumstances, and how the division of the property will be decided by the court or through negotiation.
Divorce Source/ Hardcover or Download
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Tax Aspects of Divorce
- Ships in 24 hours
The book has proven to be invaluable to people experiencing divorce or separation. It is a thorough reference for every Internal Revenue Code Section that is likely to be encountered in the divorce process.
Larry, J. Kasper, CPA/ Paperback
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Divorce & Money
- Ships in 24 hours
This book is a practical guide to evaluating assets during divorce. It explains how to determine the real value of marital property including houses, businesses, retirement plans and investments and how to negotiate a settlement that is fair to both sides.
Violet Woodhouse, CFP & Victoria F. Collins, CFP/ Paperback
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Fairshare Divorce for Women
- Ships in 24 hours
The first book that gives women the support and guidance they need to safeguard their marital assets. Too often women find themselves at a disadvantage when their marriage ends and they have to fight for what is rightfully theirs.
Kathleen Miller, CFP, MBA/ Paperback
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Divorce Strategy: Tactics for a Civil Financial Divorce
- Ships in 24 hours
It gives you the tools and information you need to plan and manage your financial divorce. It explains what most lawyers either won't take the time to tell you or don't want you to know. The methods and tactics described in this book will help you take control so you can reduce, and in some cases eliminate, the financial consequences of your divorce.
Laura Johnson/ Paperback
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The Dollars and Sense of Divorce
- Ships in 24 hours
From financial pitfalls to emotional bombshells, from inside tips to points in dealing with the legal system, this book is the ultimate guide to what happens in divorce and how to navigate the system successfully.
Judith Briles, Ph.D & Carol Ann Wilson, CFP, CDP/ Paperback
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Debt Free: The National Bankruptcy Kit
- Ships in 24 hours
Written in plain English by an experienced business attorney, the information in this book will allow you to fill in and file all of the necessary forms. You are taken through the entire bankruptcy process in a simple step-by-step manner.
Danial Sitarz/ Paperback
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Money Without Madness
- Ships in 24 hours
Written with warmth and humor, Money without Madness is the first book to offer an alternative to budgeting. Using the Money without Madness System you create a proactive Spending Plan that eliminates guesswork and accounting. Your spending choices reflect your own priorities, so you control your money instead of a budget controlling you.
Karen Brigham, CPA, MBA/ Paperback
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