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 Posted: Sun 3:53, 21 Jul 2013 Post subject: because neither party will get the exemption |
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| following article will discuss a couple areas where family law and tax law intersect.Support OrdersThe bargaining chips here are the exemptions and filing status. Exemptions are a tax deduction so they are a benefit for the spouse receiving them. Two ground rules to keep in mind is that a custody split should never be 50/50, (because neither party will get the exemption) and the court can't order parties to take a particular filing status.The advantages of taking certain tax positions can be analyzed by the DissoMaster software. Once the exact benefits to both sides are calculated, the negotiating begins. Generally, the tax deductions should be negotiated towards allocating them to the higher earning spouse. In that way both spouses collectively pay fewer taxes. Another result is that the higher wage earning spouse has a higher net income which will result in a larger order of support to the receiving spouse. All of this is,christian louboutin outlet, of course,jimmy choo sale, is negotiable and can even be conditioned on certain events. For example, an |
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