Divorce Advice for Men | Fathers Rights Divorce | Child Custody

By Jill A. Duffy

Attorney, Cordell & Cordell

Divorce can bring some big changes to the way you file your taxes and which exemptions and deductions you can claim.

With tax season just beginning to ramp up, here is some information to get you started on your federal taxes in terms of how alimony and child support affect your taxes.

By Jill A. Duffy

Attorney, Cordell & Cordell

Child dependency exemptions can equal some major cash over a few years.

In order to be qualified to claim a child dependency exemption the child must be your child (birth or adoption; care of other family members may qualify for an exemption as well), under age 19, lived with you for more than half the year and the child must not have provided more than half of their own support.

Essentially, this rule allows the primary custodian to claim a dependency exemption for a child.

By Barry Finkel

It’s tax time. As if taxes weren’t perplexing enough, divorcees have numerous considerations when calculating income and expenses – and filing tax returns. 

Year-end tax time requires special attention. When handled by an experienced family law attorney and a tax professional, returns can meet both the letter and spirit of federal or state filing guidelines. Since state law governs how divorce is handled, it’s important to hire a local divorce attorney. 

Whether paying or receiving alimony, child support or mortgage costs, or settling real estate investments, the tax implications can be significant. Filing and reporting can be as simple as a line on a tax return, or as complicated as federal forms to be filed.