Gunnstaks Law Office
972-590-6572
800-806-0186
Handling High-Value,High-Conflict Family Law Cases

Contact Our Firm Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Tax tips for divorcing couples

Many Texas residents find the process of filing income tax returns fraught with confusion. An already challenging process becomes even more complicated by divorce, which changes one's filing status as well as the deductions and exemptions that may be claimed. Here are a few tips on how to approach your taxes if you are going through a divorce.

To determine your 2012 filing status, the relevant date is Dec. 31, 2012. If you were still married on that date, even if the divorce was in process and you were living separately from your spouse, you and your spouse may use "married filed jointly" as your filing status. There are several advantages to this status, including favorable exclusion limits for the capital gain on the sale of your primary residence. One disadvantage is that you will be jointly liable with your spouse if there is an audit.

With respect to the dependent exemption for children, the custodial parent, defined by the IRS as the parent who has the child for more than half of the year, may claim the exemption. If both parents have the child for an equal amount of time, the exemption may be claimed by the parent who pays child support or the parent with the higher adjusted gross income. Notably, the divorce decree can specify which parent receives the exemption; in that case, the terms of the decree will apply.

You may not deduct any child support you pay, but you may be able to deduct other expenses of raising the child, including childcare costs and college tuition. Alimony may be deducted as long as it is paid pursuant to an order or agreement, is not used for child support and ceases upon the ex-spouse's death. Your legal fees are not deductible, but fees for tax planning advice are. An experienced divorce attorney can offer additional information about the tax implications of divorce.

Source: Huffington Post, "Divorce Tax Tips: Five Most Common Tax Questions," Joseph E. Cordell, Jan. 29, 2013

No Comments

Leave a comment
Comment Information
  • Press Release
  • Board Certified | Texas Board of Legal Specialization
  • Avvo Rating 10.0 Superb
  • LCA | Litigation Counsel of America | FELLOW Gunnstaks Law Office, Attorneys & Lawyers, Plano, TX 10 Best 2015 Client Satisfaction | American Institute of Family Law Attorneys

Office Location

Gunnstaks Law Office
5601 Granite Parkway, Suite 350
Plano, TX 75024

Phone: 972-590-6572
Phone: 972-392-2300
Fax: 214-619-0636
Plano Law Office Map

Call For Appointment Map