WhatCanBeTaxedInANorth CarolinaDivorce
Formost,payingtaxesis
notthehighlightofthe year. Itcanbeevenworsefor thosefacingadivorceand worryingabouthowa divorcemightaffecttaxes.
Howexactlydoesdivorce affecttaxes?Theanswer isn'taneasyone. TheLawOfficesofDustin McCraryhaveissuedanew articleonwhatexactlygets taxedinadivorce.
Alimony,orspousalsupport, istheregularpaymentof moneybyonespouseto anotherfollowingadivorce. TheInternalRevenueService hasgenerallydeterminedthat childsupportpaymentsare neitherdeductiblenortaxable.
Itisstillessentialtoconsiderissueslike whichparentwillclaimthechildrenas dependentsforadependentexemption andwhichparentwillbeabletoclaim variouschildtaxcreditsthatmaybe availableunderthelawdependingupon particularcircumstances. Propertydivisionis undoubtedlyoneofthe areasofdivorcewheretax issuescanbecomemore complicated.
Thereisnobright-linerulewhen itcomestoexactlyhowdividing maritalpropertymightaffecta person'staxes,aseach circumstanceisslightly different. TheLawOfficesofDustin McCrarycanhelpclients withdivorcesettlements.
FindOutMoreAt https://mccrarylaw.co
m/