Planning with Dollars and Sense – Divorce and Taxes: Yes, the IRS Can Become a Third Spouse
It’s often said that there are really three parties in a divorce: the husband, the wife and Uncle Sam. Far too many people negotiate and finalize their divorce without taking a proper account of the tax impact of the decisions they are considering. Divorce can be challenging, particularly when it comes to tax time. Which spouse owes taxes? What forms and returns need to be filed? When do I need to file? How do I file? What is the best tax planning strategy for my divorce? Join our discussion this week as we outline the importance of knowing how taxes can impact your settlement, your future income as singles, the children and more. Please read my article: The Benefits of Hiring a Financial Advisor.