Divorce Taxation

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Take the Work Out of Divorce Tax Planning

Whether you are structuring agreements, advising clients, negotiating with adversaries, or presenting to the court, it is important to have a clear understanding of the tax consequences. However, lack of funds or time to hire a tax expert sometimes leaves you wandering alone through this complicated area. Now there’s a roadmap.

This plain English manual walks you step-by-step through the most commonly arising trouble spots in property distribution, support, and more. This answer book is intelligently organized and indexed, well-supported with citations, and most important, loaded with practical advice.

REVISION 22 HIGHLIGHTS

With this new edition, we welcome a new author, attorney Ross E. Schulman, of Woodward, Pires & Lombardo, P.A., in Naples, Florida. Attorney Schulman has updated every chapter in the book and added a new chapter on the Corporate Transparency Act. The highlights include new and expanded coverage and forms on issues related to:

Property Transfers & Distribution of Assets and Liabilities:

• Dividing Real Property in Divorce: Tax Strategies and State Law Considerations
• Understanding IRC §1041 and carryover basis
• Tax mitigation strategies for the receiving spouse
• Understanding IRC §1031 exchanges in divorce
• State laws/restrictions (e.g., homestead considerations)

Tax Aspects of Valuation and Net Income

• Obtaining necessary tax information from a spouse(s)
• Practical strategies to minimize the kiddie tax
• Key IRS and IRC references

Kiddie Tax

• Obtaining necessary tax information from a spouse(s)
• Practical strategies to minimize the kiddie tax
• Key IRS and IRC references

Tax Filing Status

• Advantages and disadvantages of filing jointly
• Benefits of head-of-household status
• The marriage penalty: how it works; examples
• Compelling a spouse to sign a joint return

Estate, Gift and Trusts

• 529 Plans: governing principles; gifts and divorce

The Corporate Transparency Act [new chapter!]
Impact on Divorce Proceedings:

• Asset discovery and identification
• Valuation of marital assets
• Asset distribution
• Taxation considerations
• Limitations and uncertainties
• Practical strategies for attorneys and spouses

AND MORE!

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