What You Need To Know About Divorce & Taxes

taxes

It’s that time of year when everyone is rushing to file their taxes. Keeping everything in order and making sure you file everything correctly is challenging under normal circumstances, but the process is even trickier if you are newly divorced. Here are some important things to keep to help you

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Budgeting Money Before, During & After Divorce

budgeting

A divorce can destroy an individual’s finances for years to come. The average cost of a divorce ranges anywhere from $4,000 to $15,000 or more. On top of that, it’s likely you’ll be left paying child support or spousal support, which can rapidly drain your savings. With so much at

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How Are Profit-Sharing Plans Divided In Divorce?

child support

Question: My divorce agreement specifies that I pay a percentage of any profit sharing that I get from my work each year. My ex-wife feels I should pay her the percentage of pre-taxed profit sharing payout. I think I should pay her the percentage after the taxed payout. Who is

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DadsDivorce Live: The Alimony Recapture Rule

Paying alimony is a big enough hassle already, but imagine getting an unfriendly letter from the IRS forcing you into an audit and assessing taxes for three years of income you previously deducted. That’s what can happen under the alimony recapture rule. 

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