This is the fifth post in the Frequently Asked Tax Questions in Family Law Cases series. This series is intended to answer questions family attorneys frequently ask us regarding tax issues. Question: Husband is awarded the shares of the family corporation and the parties agree that Wife will take her Mercedes, which is owned by [...]
This is the fourth post in the Frequently Asked Tax Questions in Family Law Cases series. This series is intended to answer questions family attorneys frequently ask us regarding tax issues. Question: A dependent spouse needs significantly more spousal support for a year or two prior to being able to return to work full time, [...]
Parties to a divorce action may dispute the intent or impact of their agreement or the court’s order. One area of dispute is the character of a payment as alimony/maintenance or a property settlement. The payment of alimony/maintenance is deductible by the payor while the payment of a property settlement is not deductible. This issue [...]