Marriage and Divorce Tax Planning

There are many financial decisions and issues that can arise from marriage and divorce. We are fully knowledgeable of the regulations and requirements of marriage and divorce tax planning. We will help you make effective financial decisions for your circumstances and navigate you through the tax planning process.

Marriage Tax Planning FAQ

What is my filing status?

You are considered married for tax filing purposes if you are legally married by December 31. Most couples choose to file jointly, but filing separately is sometime a better option, depending on your situation. We will determine the best scenario for your circumstances.

Is it necessary to adjust my withholdings?

Because married taxpayers often pay fewer taxes, it is best to refine your withholdings upon marriage. Your employer will adjust your withholdings so that your W-4 reflects the married withholding rate.

Are their tax breaks for selling a home as a married taxpayer?

There are several ways to maximize your tax benefits when selling a home as a married couple. This includes home sale exclusions, double tax breaks and other exemptions depending on your circumstances.

Divorce Tax Planning FAQ

What is my filing status?

You are considered unmarried for tax filing purposes if you are legally divorced by December 31. You will be considered “head of household” as an unmarried taxpayer if your spouse did not live with you for the last six months of the year and if your household was the home of a dependent child for more than six months.

Can I deduct alimony?

In most cases, alimony is deductible to the person who pays it. We will determine if this is the case for you by thoroughly evaluating your circumstances.

Can I claim exemptions for dependents?

In most cases, exemptions for dependent children will go to the divorced taxpayer who has custody of the child for most of the year. If both parents had custody of the child for equal parts of the year, the exemption will go to the parent who pays child support.

Can I deduct child support?

Child support is not deductible on personal income tax returns. However, there may be some deductible expenses you are paying for your child. We will help you determine which of these expenses qualify for your tax return.

Contact us with any questions about marriage and divorce tax planning today.