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The detail review of a divorcing couple’s tax return can provide attorneys with a plethora of information that may help their clients attain a more financially equitable divorce settlement.
The sad fact is that almost 50% of all marriages end in divorce. It’s also a fact that most marriages that end in divorce are in trouble long before the divorce petition is filed.
Under Maryland law, child support is determined based on the Income Shares Model. Therefore the monthly support amount for the child is proportionally shared between the two parents based on their incomes, past W-2s, and child support worksheets. One parent will then pay the other parent his or her share of child support. Considerations will also be made for existing debt, property settlement, mortgages, other children or any other financial considerations.
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