New York Divorce Report - New York's Divorce and Family Law Blog

Though we just turned the calendar page to February, April 15, the income tax filing deadline will soon be upon us.   John Eory in the New Jersey Law Blog offers a number of pointers about divorce and taxes, which I will take the liberty of quoting extensively:  Alimony paid in accordance with a properly drafted divorce agreement or Court Order is deductible to the person paying it and reportable as income to the recipient. Thus, if you are receiving alimony, you must set aside a sufficient portion to pay federal and state income taxes in order not to be unpleasantly... More

The deadline for filing tax returns is approaching.   For those going through divorce, questions abound; should I filed as married or single? a joint or separate return? Can I take the children as dependents? Carley F. Mealey, an accountant at the Brisbane Consulting Group prepared an informative newsletter, Tax Tips for the Divorcing Couple, which addresses some of the most common divorce and tax issues. I share some of her insights here: Who can file a joint  tax return? Unless you have been legally separated before December 31, you may still elect to file a joint return. Should I file... More