Just about everyone knows that getting a divorce is a complicated undertaking. So too can filing taxes after a divorce in Carlsbad. And while most people generally consider these two to be non sequiturs, some of our readers are quite familiar with the fact that these two coincide quite frequently and can compound frustrations.
That’s because there are a lot of things that divorced couples need to consider when filing their taxes, especially when they have children. The most important thing to consider is who will claim their child or children as a dependent. While this can sometimes be discussed during child custody discussions, some parents may not even consider this until it comes up at tax time. This could turn into a real problem and may require a custodial parent to grant the non-custodial parent permission to claim the child.
Another thing to consider when filing taxes after a divorce is child support payments and spousal support. If this is your first year filing taxes after a divorce and you are receiving child support or alimony payments, you might not be aware that the Internal Revenue Service considers this taxable income. This can sometimes push people into a different tax bracket than they were expecting, which can sometimes interfere with a person’s finances and budget.
Finally, if this wasn’t complicated enough, the date you file for divorce can have an impact on your filing status at tax time. Although a knowledgeable attorney can oftentimes give insight into how you and your ex-spouse will need to file, the question may not be at the forefront of everyone’s minds and therefore might not be asked. This could create problems when it comes time to file, which is something we hope our readers will take into consideration when it comes to their own situation.