New Jersey Info

New Jersey Divorce Start Your Divorce Find Professionals New Jersey Articles Divorce Facts Divorce Grounds Residency Divorce Laws Mediation/Counseling Divorce Process Legal Separation Annulments Property Division Alimony Child Custody Child Support Divorce Forms Process Service Grandparent Rights Forum New Jersey Products Divorce by County

New Jersey Articles

Agreements Attorney Relationship Custody & Visitation Child Support Collaborative Law Counseling Divorce/General Domestic Abuse Domestic Partnership Financial Planning Foreign Divorce Mediation Parenting Property Division Spousal Support SEE ALL

Info Categories

Contemplating Divorce Children & Divorce Divorce, Dollars & Debt Divorce Laws Divorce Process Divorce Negotiation SEE ALL

More Information

Articles Checklists Research Center Cases of Interest Dictionary Encyclopedia Encyclopedia (pop-up) Blogs

For Professionals

Advertise With Us Free Network Page Join Our Network Submit Articles Case Management Sign In

Network Sites

New Jersey Divorce Support New Jersey Divorce Online

Who Gets to "Claim the Children" in Divorce Mediation?

In a recent article in the Journal of Accountancy author Valerie Chambers brought to light an important issue you need to consider during divorce mediation: who gets to claim the tax deduction for your children? It seems that regardless of what's written in the divorce decree or your Memorandum of Understanding drafted during mediation, the tax deduction will automatically go to the custodial parent for any tax years after July 1, 2008 unless a written waiver is filled out and filed along with your divorce or mediation papers. The form is known as Form 8332, Release of Claim to Exemption for Child of Divorced or Separated Parents and a copy of the form can be found on our Helpful Links page under the heading Tax Issues & IRS Publications: Federal on our website.

When speaking of the Parenting Plans, during divorce mediation we determine the number of nights the child or children spend with each parent. Based on those numbers (known as the "counting nights rule") the custodial parent is deemed to be the parent with whom the child primarily resides with based on the number of overnights. Logically it would seem that the parent who has the child more of the time should get to claim the deduction. But what about parents with multiple children or parents who wish to share the deduction? Can the tax deductions be shared even if the children primarily reside with the one parent or is split evenly? The answer is yes.

This regulation is not only important for claiming the tax deduction but also for claiming the $1000 per year child tax credit for each qualifying child under the age of 17. As this is an issue you will want to learn more about, please consult with your accountant or financial professional if you should have further questions.


Was this helpful? Like our site & let us know.

Related Articles


Start New Jersey Divorce Start Your New Jersey Online Divorce Today
Easy, Fast and Affordable with a 100% Guarantee.
New Jersey Divorce Find New Jersey Divorce Professionals in Your Area:
Join the Network
New Jersey Divorce Products, Services and Solutions New Jersey Divorce Products, Services and Solutions
New Jersey Divorce Resources to Help You Through the Process.
Online Parenting Class New Jersey Mandatory Online Parenting Class
Easy and convenient - complete at your own pace online.
Divorce and Custody Books Discount Divorce Bookstore
Over 100 Titles of the Best Books on Divorce & Custody.
Divorce Downloads Divorce Download Center
Instantly Download, Books, Manuals, & Forms.
Divorce Worksheet Free New Jersey Divorce Worksheet & Separation Agreement
Your Guide to Get Organized and Put Everything in Writing.
   
In New Jersey, a separation agreement is any legal document signed by both spouses outlining the terms of the separation. Subjects resolved in a separation agreement can include child support, child custody, debt allocation and asset distribution. Notarizing the document ensures its validity, since there is no such case-type in New Jersey that provides for a "legal separation." Spouses wanting child support during the separation period, however, must file a claim with the New Jersey probation department.
Divorce Lawyers & Mediators
 

Find Professionals

Easily Connect With a Lawyer or Mediator
Have Divorce Professionals from Your Area Contact You!
Enter Your Zip Code:

 

Start Your Divorce File for a New Jersey Divorce

 

Settle Your Divorce Negotiate Your New Jersey Divorce

 

Support Forum New Jersey Support Forum

Children In Between - Online Parenting Class


FEATURED TOOL - Divorce Research Manuals (detailed discussion and analysis with references to cases, articles, and other resources)

Guarantee Official PayPal Seal Facebook Twitter Versign Secure Site
Limited Offer Women's Rights Manual For Divorce
Cover Price: $55.95
Your Price: $29.95
You Save: $26.00

"The Absolute Best Investment in Your Divorce"

Men's Rights Manual For Divorce
Cover Price: $55.95
Your Price: $29.95
You Save: $26.00

"Uncover Your Options and Unleash Solutions"