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Divorce Advice for Men | Fathers' Rights Divorce | Child Custody

Providing men with essential divorce advice, fathers' rights divorce information and child custody articles. Dads Divorce is a community for men facing divorce or fathers' rights issues and run by Cordell and Cordell. Cordell & Cordell is a family law firm with a focus on men's divorce, child custody and fathers' rights divorce.
Tags >> income
Feb 21, 2012

tax tipsBy 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.

Feb 15, 2012

tax tipsBy 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.

Feb 07, 2012

tax tipsBy Jennifer M. Paine

Michigan Divorce Lawyer

Your tax filing status, for most filers, is determined on December 31. If you were still married on that day, then you and your spouse can file a return with the status "married, filing jointly."

This is true even if your divorce began before the end of the year and even if you are living separately and have not relied upon each other's income.

Dec 06, 2011

Question:Colorado Divorce Attorney

Per our divorce property division agreement, my wife was to receive all the proceeds from the sale of the marital home while I retained my entire stake in my small business.

Because of the economy we made no money on the sale of the marital home, thus she received no income from the sale.

Now she claims she can force me to pay her half of the value of my small business to make up for her not receiving proceeds from the sale.

Can she do this?

Dec 05, 2011

divorce lawyer Daniel ExnerQuestion:

I need financial advice on divorce on how to protect my assets and 401k.

I think we are heading to divorce, and I assume I am going to need all the extra money I can to afford the best divorce lawyer. I was considering stopping my contributions to my 401k for the time being.

Should I stop putting money in my 401(k) account in order to free up additional cash and to keep my wife from getting an even larger share of my retirement account?

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