What Can Be Taxed In A North
Carolina Divorce
For most, paying taxes is
not the highlight of the
year.
It can be even worse for
those facing a divorce and
worrying about how a
divorce might affect taxes.
How exactly does divorce
affect taxes? The answer
isn't an easy one.
The Law Offices of Dustin
McCrary have issued a new
article on what exactly gets
taxed in a divorce.
Alimony, or spousal support,
is the regular payment of
money by one spouse to
another following a divorce.
The Internal Revenue Service
has generally determined that
child support payments are
neither deductible nor taxable.
It is still essential to consider issues like
which parent will claim the children as
dependents for a dependent exemption
and which parent will be able to claim
various child tax credits that may be
available under the law depending upon
particular circumstances.
Property division is
undoubtedly one of the
areas of divorce where tax
issues can become more
complicated.
There is no bright-line rule when
it comes to exactly how dividing
marital property might affect a
person's taxes, as each
circumstance is slightly
different.
The Law Offices of Dustin
McCrary can help clients
with divorce settlements.
Find Out More At
https://mccrarylaw.co
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