Tax Consequences of Separation and Divorce

Well considered tax and financial planning strategies help clients to maximize tax benefits or reduce tax burdens during a custody dispute, or a separation or divorce. Issues may arise regarding the parties' respective tax obligations, including but not limited to the consequences of prior tax filings, the consequences of alimony, mortgage principal and interest payments and deductions, exemptions, withholding allowances, the Alternative Minimum Tax, and self-employment tax. Whether your goal is to reduce your tax burden, or to know your potential tax obligations, our attorneys in consultation with certified public accountants or your tax preparer, can guide you regarding the tax and financial accounting practices which may impact your circumstances.

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