Divorce and Taxes
As this article from Time Magazine points out, there are many tax issues involved in a divorce. Even parents who have never been married (and therefore never divorce) face tax issues related to sharing time with their child.
There are special tax treatments for alimony, post separation support, property division, dependency exemptions, child tax credits, head of household status and a myriad of other issues in family law.
While the five issues mentioned in the article about divorce and taxes are important, they are not the only issues involved.
I generally recommend that clients at least consult a CPA or other tax professional before and after their divorce to determine how the tax ramifications of the divorce may affect them.
A good family law attorney will understand most of the tax issues involved in divorce. But, a family lawyer is no replacement for the advice of a good tax professional.
Randolph (Tré) Morgan III is an experienced family law and collaborative divorce attorney accepting cases in Raleigh, Cary, Apex, Garner, Fuquay-Varina, Clayton, Smithfield, Wake Forest, RTP, Durham, Chapel Hill, Holly Springs and surrounding areas. He focuses his practice in divorce, child custody, alimony, child support, equitable distribution, property division, paternity, guardianship and other family related matters.
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