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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 >> tax
Mar 15, 2013

divorce lawyer Kirsten ReneauQuestion:

My ex-wife has not filed a tax return in several years so she is also not reporting child support as income.

We are supposed to exchange tax forms, but I have a difficult time handing my filings over to her when she is not following the same terms of the divorce decree.

What should I do?


Aug 20, 2012

alimony buyoutBy Cordell & Cordell Divorce Lawyers

An alimony buyout, often referred to as lump sum alimony, is an upfront, one-time payment to the recipient party, which is less than the equivalent of the present day value of the payments over time.

In most cases, the interests of persons asked to pay spousal maintenance are better served by offering an immediate buyout of alimony in return for a waiver that would preclude the court from modifying spousal support in the future.

This buy-out may occur as part of a property settlement that favors the party seeking maintenance.

To determine what amount to offer or accept as an alimony buyout, it is important to consider the present value of the asset and the tax consequences.


Jun 12, 2012

alimony recapture ruleBy Jennifer M. Paine

Cordell & Cordell Divorce Lawyer

As if paying alimony weren’t bothersome already, imagine receiving an unfriendly letter from the IRS forcing you into an audit and assessing taxes for three years of income you previously deducted.

This may sound like a tax nightmare – you pay alimony, you deduct it like your CPA and attorney said, and now you have to pay taxes for it – but for many guys it is reality.

This often misunderstood and little discussed trap is called the recapture rule.


Jun 08, 2012

New Jersey divorce lawyerQuestion:

My wife and I are in the process of getting a divorce, but her paycheck stub lists her tax filing status as "single" with our child as her dependent.

Can she claim herself as "single" on taxes before our divorce is final?

 


Apr 17, 2012

tax tips divorced dadsBy Tara N. Brewer

Special to DadsDivorce.com

As you scramble to file taxes before the deadline, many divorced dads or separated parents face two questions. Who can claim the dependent/s and what tax breaks can I qualify for?

For tax purposes, children are dependents. The parent raising the dependent the majority of the time is considered the custodial parent. The other parent is considered the noncustodial parent.

If the child lived with each parent for an equal amount of time, then the custodial parent would be deemed the parent with the higher adjusted gross income.


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