Taxes and Your Divorce

Posted By The Hunter Law Group || 14-Jun-2013

Divorce may be considered "taxing" in many ways; however, there is also the not-so-simple process of actually filing for taxes that can be even more overwhelming for a newly divorced person. While our tax season is over for this year, it is never too early to start planning for next year so that if you and your spouse do choose to divorce, you are well prepared to handle the complicating factors associated with it. You may use to be doing taxes on your own as a married person, after you get a divorce, at least the first tax season you experience; you may want to consider hiring someone to do your taxes for you. Particularly in the event that you have children in the picture, a divorce can make the tax process more complicating.

Remember, claiming your children is going to be extremely beneficial if they are still living in the home and are dependents. However, due to the complicating aspects of custody, child support and the like professional help is going to be extremely beneficial to your finances and your sanity. By receiving their help, they can give you an understanding for what you can expect tint he years to come. Another aspect to consider is that you want to save a tax fund, just in case you owe money in taxes in the end. You never know what to expect, so a little money for a rainy day is going be comforting in the event you owe the IRS. If you do owe them money, they may be willing to work out a payment plan because you are newly divorced. Though, if you have the means to, setting aside a savings each month may help you avoid having debt to the IRS.

Contact The Hunter Law Group today if you are looking for a Mission Viejo divorce attorney who can help you walk through your divorce, before the next tax season rolls around.

Categories: Divorce