Feinberg & Waller, APC
800-655-4766
Exclusivity in Practice
Integrity in Performance
Results-Oriented Divorce Attorneys

Divorce: A Taxing Experience

There is no question that divorce can be a truly life-altering experience. Your finances may change radically. Your last name may change. You may even choose to move to a new location, remarry, and build a new family with a new spouse.

Even the way you are taxed by the federal government may change. You can still file as an individual even if your divorce is not final by the end of the fiscal year. Whether this makes sense is a personal matter that you should discuss with your tax preparer. Depending on the circumstances, it may make sense to file as either an individual, married but separate, or together as a married couple.

While tax laws are complex, certain basic federal rules cover child support and spousal support. Essentially, child support is tax-free to the recipient; he or she does not have to pay taxes on the money received for the support of a child. This rule stands in contrast to that covering spousal support, which is taxable to the recipient. The payor spouse cannot deduct child support payments that he or she makes; yet the payor can deduct spousal support payments. Further, if one parent provides at least 50% of a child's support during the tax year, he or she can claim the child as a dependent for tax purposes. Typically this determination is a function of with whom the child lives during the tax year in question, the parent with more than 50% of the timeshare (even 50.01%) being entitled to the dependent exemption. Note, however that the party entitled to the exemption is allowed to give it to the other parent if the proper procedures are followed.

If you are going through a divorce, make sure to discuss tax matters with your attorney. You and your ex may be able to agree on an arrangement that will allow you both to save money in the long run.

No Comments

Leave a comment
Comment Information

Calabasas Office
23501 Park Sorrento
Suite 103
Calabasas, CA 91302

Toll Free: 1-800-655-4766
Phone: 818-224-7900
Maps & Directions

Beverly Hills Office
433 North Camden Drive
Suite 600
Beverly Hills, CA 90210

Toll Free: 1-800-655-4766
Phone: 310-859-7122
Maps & Directions

William A. Feinberg 1928 - 2001

View Our Video, "Marshall Waller, Martindale Hubble AV Rated Preeminent Attorney"

* CV, BV, and AV are registered certification marks of Reed Elsevier Properties, Inc., used in accordance with the Martindale-Hubbell certification procedures, standards, and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the Bar and the Judiciary. Martindale-Hubbell ratings fall into two categories-legal ability and general ethical standards.

** The initial consultation is free to clients who retain Feinberg & Waller, APC. A significantly reduced flat fee is charged for the initial consultation. That fee is credited back to the client upon retention, thus resulting in no charge for the meeting. In the event the initial consultation fails to result in the retention of Feinberg & Waller, APC, the potential client nonetheless receives the consultation services at the significantly reduced fee.

  • AV Preeminent Martindale Hubbell lawyers Ratings
  • State Bar Of California | California Board of Legal Specialization
  • Ventura County  bar association | Est. 1928
  • Avvo
  • Beverly Hills Bar Association
  • Super lawyers
  • San Fernando Valley Bar Association
  • LACBA | Los Angeles County Bar Association
  • The State Bar of California
  • TLC | Los Angeles | Trial Lawyers Charities