Tag Archives | divorce tax issues

Are divorce legal fees tax deductible?

Unfortunately, most of the fees associated with your divorce are not tax-deductible. However, some portions such as those related to any tax advice related to your divorce are deductible. Fees for Tax advice. The time and fees your attorney charges for any type of tax planning research or advice to you on items related to [...]

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Make sure you negotiate the dependency deduction.

I marvel at the number of people that do not consider the tax implications of divorce. One important consideration is the dependency deduction for children.   The current tax exemption amount for each dependent child is $3,200. For someone in the 31% tax bracket, this will save him or her over $1000 in taxes. In addition [...]

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