The Tax Implications Of Divorce
Tax issues arise during every divorce. The tax implications of divorce can either increase or decrease the value of your final settlement, depending on how your property division and other issues are handled. Hiring a knowledgeable attorney to ensure you are making the right decisions regarding taxes during divorce is highly recommended.
Springfield Divorce And Taxes Lawyer
Taxes are a substantial part of a divorce agreement, especially if you have children. I discuss possible tax implications of the property division, child support, spousal support and other elements of divorce with my clients, and I advise my clients confer with an accountant during this process.
While guiding you through the divorce process, I believe it is also important to help prepare you for future financial success.
I highly recommend consulting an accountant during the divorce process. Some areas which I typically discuss with my clients include:
- Head of household
- Dependency exemptions (claiming children)
- Standard deduction
- Childcare credit
- Education credits and deductions
When you are going through a divorce, it can be comforting to receive advice from a lawyer who has been in your shoes. Call 877-622-6089 to arrange a free consultation or send me an email. I can help you find trusted resources to guide you through the tax implications of divorce in Massachusetts and all other issues that may arise.