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Taxes

How Divorce Will Impact Your 2020 Taxes

Tax-filing season is upon us, and for some this may come with the anticipation of awaiting tax refunds, but for a couple amid a divorce, tax season may require additional thought and planning. New tax law changes have had a profound impact on how separated and divorced couples face their taxes in
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Should You File Your Taxes Jointly Or Separately During A Divorce?

One of the benefits of marriage is being able to file your taxes jointly. That’s because you get the benefit of certain tax breaks, such as the child and dependent care tax credit, deductions for college tuition expenses and student loan interest, the deduction of net capital losses and various IRA deductions.
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Stimulus Checks and Divorce

By Debra Schoenberg More than two million couples in the U.S. get divorced every year and one of the top three reasons for splitting up is finances. The COVID-19 crisis has left many families struggling to cover basic expenses as the number of unemployment claims surge to 6.6 million. As early as
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New Tax Laws Will Impact Alimony Payments

New tax laws will impact alimony payments. If you or someone you know is in the midst of a divorce, they should be equipped with a basic understanding of how the new laws affect them. SFLG’s Debra Schoenberg shares her expert insight with the California Business Journal. https://calbizjournal.com/new-tax-laws-impact-divorce/
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How to Protect Your Assets in a Grey Divorce

by Debra Schoenberg Grey divorce refers to the split or separation of older couples, usually over the age of 50, who have been in a long-term marriage and maybe going through retirement. According to Forbes, divorce for older couples has increased, while the overall rate of divorce in the U.S. has declined.
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Tax Reform Will Have Big Impact On Divorce

The new tax law passed by Congress in late 2018 and signed into law by President Donald Trump does a lot of things. For example, if you’re fortunate enough to leave behind a huge estate, your heirs will now get the first $10 million tax free. In addition, the corporate tax rate
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How the 2019 California Alimony Tax Law Affects Divorce

The IRS code was modified effective January 1, 2019 which now eliminates the ability to list spousal support as a deductible expense for the payer on federal income taxes. Recipients of alimony are also no longer obligated to report the payments as taxable income. The new law will apply to all alimony
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Practical Tips on Getting Through a Divorce

Written by Debra Schoenberg October 7, 2019 Marriage is a beautiful union until things turn sour. Marriage takes a lot of work, and sometimes things don’t go as planned and you find yourself going down a bumpy road of separation from your spouse. The divorce process is a complicated and stressful situation,
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