North Carolina Divorce Law – Raleigh Divorce Lawyer
Divorce Laws, Forms, Calculators, and Family Law Help
If alimony is front-loaded, meaning that the payments are substantially larger in the first year or two, the alimony recapture rule could be triggered. The rule provides that if the amount paid in the third year plus $15,000 is less than the amount paid in the second year, or when the payments in the second […]
Read More
No. child support payments are not taxable or deductible. The IRS has mandated that child support payments are never deductible and never taxable.
Read More
It is not permissible to share or split the dependency exemption; only one parent can claim the child as a dependent on any given year. However, there are other ways that the parents can essentially share the exemption. One way both parents can benefit from the exemption is to alternate who claims the child each […]
Read More
Opening a Retirement Account Generally speaking, upsetting a retirement account before it is permissible to do so can result in a major tax penalty. However, when couples divorce dividing retirement accounts is inevitable. If the retirement account is a qualified employ plan, such as a 401K or pension that receives contributions from the employer, a […]
Read More
Most people are familiar with the concept of an expert witness. On television and in film expert witnesses can take the form of an accident reconstructionist, arson expert, physician or some other professional. Experts are a staple in litigation and are often used when a dispute exists. So will you need an expert witness in […]
Read More
Child support payments are never taxable nor deductible. There are, however, several other tax implications that take effect upon separation that deal with children. Arguably the most important child related tax consideration is the dependency exemption. The exemption, similar to a tax deduction in operation, reduces a person’s taxable income by a set amount. Parents […]
Read More
How custody and support can impact your tax situation Children and taxes details are important to know when going through divorce. Separation and divorce trigger numerous tax consequences; some of the tax rules related to divorce are straight forward, while others can get fairly complex. One of the more simple rules to understand, however, relates […]
Read More
Tax-Free Transfers Property division and taxes details are incredibly important to know when going through a divorce. The tax implications of dividing marital property can create a bit of a headache. Most couples have multiple types of property; personal property, real property, investment and retirement accounts, and even business interests. It is crucial for both […]
Read More
Understanding Property Division Property division and taxes basics. What is there you need to know? Upon the dissolution of a marriage, all marital property will have to be divided amongst the spouses. The dividing of most assets will not trigger a tax event; the IRS has created a rule allowing for any spouse-to-spouse transfer that […]
Read More
