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    • « You Can Quitclaim Title But Not The Loan | Home | Free Foreclosure Workshop »

    Divorce and Filing Your Income Tax

    By marionduffy | November 9, 2009

    I met an income tax specialist at a recent networking event.  We discussed real estate and divorce and taxes.  Later in the day I received an email from him that I copied and pasted below.  It just goes to show the importance of consulting qualified professionals during the divorce process.

    Hi Marion,
    As we left breakfast, I realized I did not mention one of the most important tax issues for couples pre-divorce.
    If they plan to file taxes separately, they may be advised that they must file “Married filing separately.” This is the most penalized way to file. If they have been living separately for the last six months of the tax year including December 31, there are better alternatives. I have a Chamber member  in this situation and her CPA, who she had been using for many years, told her she must file “Married filling separately.” I had to PROVE to the CPA that that was not the case. She saved over $1,000 in taxes. She is now my client and I can give you her reference if you wish.
    If I can assist you, I would be most pleased to do so.
    Phil

    –

    Philip Nathan, Enrolled Agent

    TaxXpert@cox.net
    Direct: 949.241.6598
    Fax:     949.951.9491
    It’s not how much you get —
    it’s how much you get to keep.

    Topics: Divorce |

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