by Tiffany McFarland Esq., Cordell & Cordell, PC. Transferring IRA Interests Interests in your traditional individual retirement account (“IRA”) or that of your spouse may be made per Internal Revenue Service (“IRS”) guidelines when the transfer is incident to a divorce. The transfer is tax free. There are two commonly-used …
CONTINUE READINGDivorce and unwed childbearing cost taxpayers at least $112 billion each year or more than $1 trillion over the last decade. This estimate from the Institute for American Values is, as the authors suggest, likely to be an underestimate.
CONTINUE READINGWe’ve all heard the old adage that “there’s nothing certain in life but death and taxes” and maybe that’s why, when it comes to divorce, so many people are surprised at what effect a divorce can have on those two seemingly unmovable certainties. Everything else in divorce is so up in …
CONTINUE READINGAccording to the Tax Foundation, a non-profit, non-partisan organization, Tax Freedom Day will come on April 23 in 2008. What this means is that the average American will be working through the 23rd just to pay all of their taxes. This includes both federal and state income taxes, sales and …
CONTINUE READINGThe economic stimulus plan has been passed into law, and for most Americans, that means a check will be in the mail sometime in May. Just about every American will qualify for a rebate except for those with very high incomes and those who pay no taxes or have less …
CONTINUE READINGAs a Financial Planner and CPA I am often asked about issues relating to finance as one goes through divorce. The following is a list of 19 rules that generally apply to finances and divorce. Because every situation is different this list is not all inclusive. You should consult the …
CONTINUE READINGYour marriage is going though a divorce and that can be personally and financially messy. During the divorce proceedings it is important to avoid making financial mistakes. Forbes came out with a list of tips in helping to avoiding making those financial mistakes.
CONTINUE READINGQuestion: I have been approved for SSDI medically but just got declined because SS says I don’t have enough quarters reported in the last ten years. I have been involved in running, managing or contributing to the practice for over 12 years…2 year of which I worked full time in …
CONTINUE READINGThrough the Legal Looking Glass and Down the Family Court Rabbit Hole – Don’t Go It Alone – The dissolution of marriage or the paternity determination process can be a journey through a maze of rules and requirements which can be illogical or contradictory, even by legal standards.
CONTINUE READINGThe legal right to claim a child as a dependent for income tax purposes is a significant issue which can easily be overlooked in dealing with all the other issues involved in custody, visitation, and support cases. The non-custodial parent may assume that the custodial parent gets to claim the …
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