Taxes
What gets taxed in a North Carolina divorce?
Under the best of circumstances, no one likes dealing with taxes. But when you’re involved in a divorce, there are special circumstances that come into play.
For example, will any alimony or child support payments be taxed? And who gets to claim the children on their tax return? These are just a few examples of the many tax situations divorcing couples must consider.
In this section, we will address a number of the situations that can impact your tax liabilities in a divorce.
What Gets Taxed in a North Carolina Divorce?
Even under the best of circumstances, most of us don’t relish the idea of paying taxes. This can be particularly true in difficult times. Facing a divorce and worrying about how your divorce might affect you from a tax perspective is doubly unpleasant. It’s an...
What is the Impact of the 2018 Tax Code Changes?
Changes are inevitable. This includes tax changes. When a tax change occurs someone will be affected, but the question is, is that someone you? Based on the 2018 Tax Cuts and Jobs Act (TCJA), those who make alimony payments may find themselves affected by this tax...
Common Financial Mistakes Made During Divorce
The decision to get married is, in so many ways a decision to make two lives one – and finances are no exception to this rule. More often than not, married couples combine their debts, assets, and bank accounts, and budget together. This is understandable, and is...
How Divorce Can Impact Your Taxes
Taxes. Most of us don’t love thinking about them, and most of us would certainly agree that in many respects, tax time is a headache. This is true almost every year, but in some years, it is more true than others. If you are in the midst of or have recently finalized...
Tax issues involving children in a divorce
During the divorce process, custody and support can impact your tax situation. There are various child-related tax implications that must be addressed upon divorce and separation.
Tax issues involving property division
What tax implications are involved when dealing with property like retirement accounts, life insurance policies or even the marital home?
Divorce & Taxes: Four Things You Must Know
There can be different tax liabilities associated with spousal and child support, as well as divided property.
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When a marriage ends, it is never easy. It can feel like there are a million things to consider — from the practical decisions about property and finances to the emotional heartbreak of ending a relationship.
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