Federal tax rates are likely to be increased for higher income individuals. Moreover, tax planning issues are already important in Maryland. Continue reading Alimony: A Tax Planning Opportunity
Category Archives: Divorce and Taxes
In Separation and Divorce, Who Owns a Joint Tax Refund?
As Ben Franklin reminded us “in this world, nothing is certain except death and taxes”. As a Maryland Lawyer representing clients in their financial affairs arising from separation and divorce, tax issues must be kept in mind. Continue reading In Separation and Divorce, Who Owns a Joint Tax Refund?
Income Tax Issues for Divorcing Spouses
As a Maryland Divorce Attorney, I often counsel my clients on the risks involved in filing joint tax returns with their soon to be ex-spouses. It is not uncommon for individuals with businesses or other complicated returns to obtain an automatic six month extension. For such individuals, October 15th becomes the filing date. Since that date is approaching, I thought it would be a good idea to discuss some related issues a spouse facing divorce might want to consider. Continue reading Income Tax Issues for Divorcing Spouses