Taxes and Divorce in Fort Lauderdale

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If you are considering divorce, you should consult a Fort Lauderdale divorce attorney to make sure you understand the tax implications and other important family laws that may apply to your specific situation when filing for divorce.

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Taxes and Divorce in Fort Lauderdale Lauderdaledefense.com

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Taxes and Divorce in Fort Lauderdale Taxes can be complex to navigate on your own during and after divorce. If you are filing for divorce you may not be thinking about how this decision can affect your taxes. However divorce can have a huge impact on your taxes and also on your finances. Lauderdaledefense.com

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Some Helpful Tips ▰ Child support is not taxable and the payments are not deductible. ▰ Spousal support is taxable the year you receive it ▰ Spousal support you have provided – You can deduct spousal support. ▰ It is possible to deduct contributions to your and your spouse’s IRA ▰ It is vital you notify the Social Security Administration about any name changes otherwise the name on your tax records will not match your SSA records causing further tax complications. Lauderdaledefense.com

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Healthcare Concerns You are required to have healthcare coverage for yourself and dependents claimed on your tax return. If you lost coverage after divorce you can enroll again during the established enrollment period. It is important you report any change in circumstances throughout the year including marital status and other important aspects such as name change and change of address. Lauderdaledefense.com

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Preparing Your Taxes Taxes are complicated and more so during a divorce. The first thing to consider is your filing status. The IRS only looks at whether you are married or not the rest is history. Another important aspect to consider is whether you will claim your kids as dependents or not. Generally the parent that spends more time with the children throughout the year can claim the children as dependents. Lauderdaledefense.com

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Division of Assets Every couple’s financial situation is unique. Some decisions you make now will benefit you while others are not as beneficial especially when filing your taxes. So what do you do Dividing marital assets is already complex. Your taxes are calculated depending on how these assets are divided. Lauderdaledefense.com

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Fort Lauderdale Family Law Attorney If you are considering divorce you should consult your family law attorney to make sure you understand the tax implications and other important family laws that may apply to your specific situation when filing for divorce. Lauderdaledefense.com

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The Law Office of Gustavo E. Frances P.A. Phone:- 954-297-6546 Toll Free: 1-866-435-4172 200 SE 6th St 402 Fort Lauderdale FL 33301 https://www.lauderdaledefense.com/Contact.shtml Lauderdaledefense.com

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