Did you know there can be serious tax implications after filing divorce?
The infographic linked below describes several important tax implications to consider when filing for divorce. Some tax implications of filing divorce include:
1. Changing Filing Stat us - When an individual or couple changes their filing status from joint to separate, this may make a tremendous difference on how much tax relief an individual may receive. If a divorce is not fully resolved by the year's end, the couple may still be eligible to file jointly.
2. Head of Ho - usehold FilingAfter a parent has been divorced for 6 months, and is the custodial parent of a dependent child, he or she may be able to claim single head of household.
3. Tax Liabilities - If an individual receives certain types of property or assets from a divorce, these may be considered tax liabilities. In this case, may be wise to speak with an attorney or tax expert.
4. Home Ownership - If an individual gains ownership of a family home, he or she may be facing an unexpected tax bill.
To learn more, check out the full infographic here - Tax Implications of Divorce
The infographic linked below describes several important tax implications to consider when filing for divorce. Some tax implications of filing divorce include:
1. Changing Filing Stat us - When an individual or couple changes their filing status from joint to separate, this may make a tremendous difference on how much tax relief an individual may receive. If a divorce is not fully resolved by the year's end, the couple may still be eligible to file jointly.
2. Head of Ho - usehold FilingAfter a parent has been divorced for 6 months, and is the custodial parent of a dependent child, he or she may be able to claim single head of household.
3. Tax Liabilities - If an individual receives certain types of property or assets from a divorce, these may be considered tax liabilities. In this case, may be wise to speak with an attorney or tax expert.
4. Home Ownership - If an individual gains ownership of a family home, he or she may be facing an unexpected tax bill.
To learn more, check out the full infographic here - Tax Implications of Divorce