Divorce Advice for Men | Fathers Rights Divorce | Child Custody

By Jennifer M. Paine

Michigan Divorce Lawyer

The simple answer to the tax question, "can I deduct child support?" is no. And forget about paying alimony, which is deductible, instead of child support.

The IRS can treat payments as child support despite what you call it if the payments are paid out as child support would be – during the child’s minority, in amounts that fluctuate with fluctuating income, childcare needs, etc., and so forth.

However, you might be paying expenses for your children that are deductible.

Pet insurance: a topic that would seem inane 20 years ago is now a booming industry with one million pets and counting covered by insurance.

Revenue for U.S. pet insurance plans was more than $300 million in 2009 is predicted to reach $753 million by 2014, according to consumer research firm Packaged Facts.

But does pet insurance make sense for you?

Financial adviser Dan Danford, CFP®, CRSP®, MBA, shares his financial tips on whether owning pet insurance makes financial sense.

Question:

Can I modify the divorce decree if I signed the papers without fully realizing the ramifications of some of the court orders?

I went through my divorce pro se, and at the time I didn't realize how screwed I was when I signed the divorce decree that apparently doesn't allow me to claim any dependents. This has resulted in me owing thousands of dollars on my taxes.

Can I have the decree re-negotiated?

By Jennifer M. Paine

Michigan Divorce Lawyer

Unless your divorce settlement agreement or divorce decree says otherwise, the right to claim your child as a dependent belongs to the custodial parent.

According to the IRS, this means the parent who has the child more than one-half of the year.

However, if both parents spend one-half of the year, equally, then it is the parent who pays child support, and, if neither, then it is the parent with the higher adjusted gross income.

Question:

My wife and I are getting divorced and her parents are threatening to bill me for the wedding costs they incurred.

Do I have any legal obligation to pay back the cost of our wedding to my in-laws?