The Tax Consequences Of Divorce

When you hire a divorce attorney, you want someone who considers every relevant factor, including the tax consequences of divorce. This includes the different ways the division of assets can be handled and the tax ramifications it can have on each party.

That is what you can expect from the Salem attorneys at the law firm of Moniz & Mendes, P.C. We offer clients throughout Essex County and surrounding communities in Massachusetts the legal counsel they need in simple and complex property division matters.

When you contact our firm, we take the time to understand your financial situation and goals. We will carefully look at all the assets associated with your marital estate, and help you make the best tax decisions based on your immediate and longer term interests.

Asset Division And Tax Issues That Must Be Considered

We can help you understand and consider all of the tax consequences of divorce actions, including:

  • Who will pay capital gains tax from the sale of marital assets
  • Whether an alimony award should be structured according to gross income or net income after tax
  • Whether paying or receiving alimony or child support can be structured to provide a tax advantage
  • Which parent will have the right to claim the income tax deduction for dependent children
  • Which parent can claim the child care credit
  • Who will be responsible for the delinquent income or property taxes
  • Who pays for any tax liability incurred for any jointly filed returns; past, present or future
  • What exemptions can be claimed for receiving certain assets in a divorce or taking on certain tax burdens

We can also help you analyze and negotiate tax implications for real estate sales and other issues that are relevant to a divorce action as well as the division of retirement accounts.

How Will Divorce Impact You Come Tax Time? Call Us for More Information.

Contact us online, or call 781-350-4963 to schedule your free initial consultation with a lawyer at our offices located in Salem, Massachusetts, who can help you make informed decisions about your situation.