Tax Returns and Divorce Taxes are one of life's inevitables. You cannot avoid it even while getting a divorce. In this blog post, I lay out three things to understand when dealing with tax returns in divorce. Why you need to get advice before filing a return with (or without) your spouse … [Read more...]
What Your Family Attorney is NOT Telling You.
Hidden Tax Traps in Divorce Your Attorney Won't Tell You About Look. Your attorney is doing the best job he or she can. Family law is what they do day in and day out. He or she is just not a tax expert and may not know about all the tax traps in divorce. If I listed all the things that you (and … [Read more...]
My Ex Filed Our Joint Return Without My Signature. Am I On the Hook Now?!
Can My Former Spouse File a Joint Return Without My Signature? The answer is maybe. Under some circumstances, you can be held jointly liable for your spouse's tax debts even if you didn't sign the return. Normally, you must sign the return unless your spouse has a power of attorney. Still in many … [Read more...]
Know the rules: tax consequences of dividing property in divorce.
Getting divorced is tough. Two lives joined together are split asunder and the last thing on anyone’s mind is taxes. However, understanding the impact of taxes on a property division is key to making sure a division of property is truly equitable. Hidden taxes in the property divided can further … [Read more...]
Guest Post: Gary Smith of WealthSmith Financial Talks about Maine State Retirement in Divorce.
Gary Smith is the owner of WealthSmith Financial, a financial planning firm, located in Portland's Old Port. Gary is a Certified Financial Planning Professional, a Chartered Financial Consultant, and an Accredited Investment Fiduciary. He is a great resource if you have questions about your … [Read more...]
Getting Divorced? What You Need to Know About Your Unpaid Tax Liabilities.
Getting Divorced? What You Need to Know About Your Unpaid Tax Liabilities. Getting divorced is unpleasant, even in the best of situations, and nothing can make it more unpleasant than when issues from the marriage continue to haunt the former couple after the marriage is ended. Unpaid taxes is just … [Read more...]
Getting Divorced? Here are Some Tax Traps to Avoid.
Divorce is tough. No doubt about it. So avoiding more bad news is probably a good idea. While I can't make divorce any easier here are some tips on avoiding tax troubles in your divorce: 1. Filing a joint return in your final year of marriage. The instinct that often prevails during divorce is … [Read more...]
