Benjamin Franklin penned one of his most famous quotes shortly before his death. Writing to his friend, French scientist Jean-Baptiste Le Roy, he said, “…In this world, nothing is certain except death and taxes.” However, the first part of that same sentence is quoted less often. “Our new constitution is now established; everything seems…
Advance Child Tax Credit payments started arriving in the mailboxes and bank accounts of tens of millions of families this July. But there has been understandable confusion among divorced parents about how the new credit impacts them. In March 2021, The American Rescue Plan significantly expanded the Child Tax Credit. Though currently a temporary…
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 the coming…
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. But what…
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 this week,…
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/
Schoenberg Family Law Group, P.C., recognizes that family law matters involve complex, sensitive issues that can have a lasting impact on you, your family, your finances and your future.
