Divorce and Taxes: Mortgage Interest and Real Estate Taxes

By Jill A. Duffy Attorney, Cordell & Cordell During the course of a divorce, it is usually decided who will maintain the marital home after the dust has settled on the divorce decree. However, if your divorce is finalized midyear or at year’s end, you have paid for mortgage interest …

Divorce and Taxes: Child Dependency Exemptions

By Jill A. Duffy Attorney, Cordell & Cordell Child dependency exemptions can equal some major cash over a few years. In order to be qualified to claim a child dependency exemption the child must be your child (birth or adoption; care of other family members may qualify for an exemption …

Correcting errors made by the child support agency

Question: I am up to date with all child support payments as my wages are garnished from each paycheck. However, the child support agency intercepted my tax refund and was withholding that money. This is obviously an error since I do not owe any arrears. How can I get this …

Who gets to claim the children for tax benefits?

Question: In our divorce decree, it is stipulated that whichever party is able to maximize the tax benefit for our dependent son would be able to claim him for tax purposes. But that is only applicable in the years that I pay at least 51% of his college tuition. This …

Divorce and Taxes: Marital Status

By Jill A. Duffy Attorney, Cordell & Cordell In the past, it is likely that you and your former wife have filed joint taxes (married filing jointly). This year, things may have to change. If your divorce was finalized on or before Dec. 31, 2010, you will have to change …

I’m still paying off child support arrears for my adult child. When will it stop?

Question: I have been paying child support arrears for what seems like forever. My child is now a grown adult with a family of his own yet I am still trying to pay off child support! Why do I have to keep paying if the money is no longer going …

Does the amount of income tax exemptions affect child support?

Question: When figuring child support, I am asked to provide my income tax return. Does the amount of income tax exemptions have an effect on the child support calculation?

Does my wife have any rights to our income tax return?

Question: My wife and I are still married but considering divorce. This past year she worked a low-paying part-time job for only a few months. Does she have any legal rights to our income tax return if she worked and earned so little?

Money Made Easy: How To Save Money on Taxes

Financial adviser Dan Danford answers a popular tax season question in this week’s Money Made Easy: How do you save money on taxes? Danford, MBA, CRSP, of Family Investment Center, explains the need to understand how the tax system works and how the tax forms work. He also offers tricks …

Are Attorney Fees Tax Deductible?

By Jill A. Duffy Attorney, Cordell & Cordell Unfortunately, your divorce attorney fees are not tax deductible. However, any attorney fees that you incurred relating to tax advice surrounding divorce may be deductible up to the federal government limits. You may also be entitled to deduct attorney fees to obtain …