Common Tax Issues Involved in Divorce
Don’t Overlook the Tax Issues Created By Your Divorce
Tax consequences follow many of the decisions made during a divorce, settlement agreement, or marital dispute resolution – often for many years to come. Whether you are involved in a divorce, separate maintenance agreement or annulment, it is important to consider taxes and the implications they may carry. Having knowledge of the tax issues created by your divorce is essential. This is why you should have an experienced divorce lawyer by your side.
Although your marriage may be coming to an end, the old saying about death and taxes still rings true. While the institution of marriage has often drawn comparisons to an economic partnership between two people, the truth is that both spouses need to be aware of their responsibilities for any and all tax liabilities incurred. Overlooking the tax consequences stemming from your divorce would be a mistake, which is why we encourage you to speak with the team at Lois M. Brenner, Esq. today.
Some of the most commonly overlooked tax implications include:
- Tax implications of spousal support
- Tax implications of child support
- Tax exemption for dependent children
- Deductibility of mortgage interest
- Tax implications of pensions and 401(K) plans
Lois M. Brenner Has Been Serving NYC Families for Over 35 Years
If you have questions about the tax issues that may be created by the breakdown of your marriage, we encourage you to discuss your options with our New York divorce lawyer, Lois M. Brenner, Esq., as soon as possible. You can trust that your case will be in capable hands when you turn to our firm for guidance. Contact our office today at (646) 663-4546 to request your initial consultation.
Lois M. Brenner, Esq. is a highly skilled divorce litigator, strategist, and mediator with decades of experience. Find out how we can assist you with your divorce by giving us a call today.
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Best Divorce Lawyers in NYC!! I can’t say enough about Lois Brenner. She saved my life. I was really being abused by my husband. I wanted a divorce, but I was scared to leave. Hiring her provided me with a support system that helped me break free of a destructive marriage. She, along with her team of professionals, and her litigation colleague Matt really gave me the backbone to step up and out. My children are safe, I’m back at work, and we are no longer afraid. The ongoing legal and personal support made all of this possible. Working with Lois and Matt was a life-changing experience. Katie M.- Katie M.
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“We saved thousands of dollars!”- Gloria
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Lois was an absolute pleasure to work with. She worked on a prenuptial agreement for me. Our very first conversation put me at ease. She was interested in my upcoming marriage and wedding. She assured me the prenuptial agreement could be drafted quickly. She made intelligent recommendations to address some of my complex financial decisions. She also made sound suggestions to protect my multi-million dollar portfolio. Our wedding is coming up and will be a lot smaller than we originally thought due to COVID-19, but Lois Brenner got our prenuptial agreement done in time, and made it a lot more pleasurable experience than I thought it would be. I would recommend Lois to anyone seeking a truly skilled attorney to draft their prenuptial agreement.- Glen Mearns
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Thanks to Lois Brenner our wedding went well because we had our prenuptial agreement in place. We literally had her draft our prenuptial agreement 2 weeks before our wedding. She was thorough, made suggestions to include things we hadn’t even thought of, and got it done really quickly. Thanks Lois :)- Tanya S
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Lois Brenner was great to work with. She was very thorough and efficient! I would recommend Lois to anyone seeking an amicable divorce.- RW
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I had read about Lois’ unusual divorce method in one of her blog posts. It was refreshing to see someone was working with the psychological issues in divorce. My husband is bipolar and getting him to agree to a divorce and commit to the process was tough. When we met with Lois she really understood him. She immediately identified his mental health issues, and because she has a psych background, she was empathetic to his needs and was skillful at guiding him through her divorce mediation process. It took a while but she really got us to a point where we could actually discuss things without my husband blowing up. Her method is unique and it really helped in our situation. She actually recommended a great psychiatrist who changed my husband’s meds at her urging (she has a medical degree too), and my husband is coping much better. We can’t thank her enough for her compassion and advice! If you need a divorce attorney, especially if mental illness is a part of the fabric of your marriage, go see Lois! Thanks Lois - Lorna P.
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Lois acted as the mediator in my divorce, and she was absolutely excellent. It was a very difficult time for me personally, but Lois made the process as easy and painless as it could possibly have been. She listened to each of us separately, and made thoughtful and helpful suggestions. She is fair, and seemed to genuinely care about finding a solution that was best for both parties. Lois is perfectly qualified to handle this type of situation, given her background in psychology. She truly understands people, and used this ability to keep my ex-husband and I calm, and smoothly navigate a few tricky situations. I felt very understood by Lois, and think that she not just a top-quality attorney, but also a very decent person. She is responsive, and answered my emails within a couple of minutes every time. Highly rated!
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“Keep up the good work!”- Jonathan
