San Diego Divorce Attorney Offers Divorcing Couples Tax Filing Info
April 10, 2012 (PRLEAP.COM) Business News
SAN DIEGO AND DEL MAR, CALIFORNIA - Divorcing couples could find income tax season more stressful than most."A couple going through a divorce has several filing options," said John Griffith, a San Diego divorce attorney, California. "How their income is characterized does not change, regardless of how they file."
All income earned from the date the couple married to the date they separated is considered joint property or "community income," Griffith explained.
Income earned by the couple must be treated as joint when filing taxes.
If a couple separated on June 15, 2011 and are filing a joint return, they will file as they have in the past.
The couple needs to decide who is entitled to what portion of the return based on separate property income deductions for all income earned after June 15.
If the couple chooses to file separate returns, then each claims one half of the total income earned from Jan. 1-June 15. Each claims their separate income earned from June 16 through the end of the year.
"Going this route can be very confusing," said Griffith, the Oceanside divorce lawyer. "Especially in cases where a spouse is self-employed."
The same rules and ratio apply to deductions and adjustments.
If the couple files a joint return, they need to decide who claims the children as exemptions and who claims the earned income credit.
Spousal support, child support and custody have large parts to play in tax filing.
For divorcing couples there are two main filing status options:
1) Married Filing Joint
2) Married Filing Separate
Griffith advised seeking counsel from an accountant or tax attorney experienced in divorce cases since the filing status could end up saving both parties money.
"Divorce attorneys aren't always experienced in the area of tax issues," said Griffith. "It's important to have someone with this expertise help navigate through these difficult situations."
Based in San Diego, California, Griffith & Young, APC specializes in family law and California divorce law.
Learn More
Learn more about Griffith & Young, APC and San Diego family attorney by visiting www.SanDiego-Divorce-Law.com. To schedule your free initial consultation and case analysis, please call 858-345-1720.
About Griffith & Young, APC
The divorce lawyers at Griffith & Young, APC have extensive litigation experience in all areas of family law practice and California divorce law. Based in San Diego, Griffith & Young, APC offers low flat fee services, a sliding hourly scale and military discounts.
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