A divorce tax attorney deals with often challenging economic consequences when a couple decides to be apart. A divorce can upend your life and change the way of filing taxes. Dealing with tax issues during the legal separation can be overwhelming and emotionally draining. At this very moment, guidance and support are a must to navigate in the right direction.
The divorce law of some states divides assets equally and fairly. Your marital status determines your tax filing status at the end of the year. If in any case, your divorce is not final on or before Dec’31, you can file as a single, unmarried individual. The IRS takes unpaid taxes seriously to tackle the financial situation. Couples who transfer or pay for the property when they are together facing tax problems. In Houston, several tax rules come to play when it's time to file for divorce.
• Property that is transferred as a gift may be tax-free. A gift may be taxed as alimony and deductible to other spouses.
• If there is unpaid tax debt and divorce, you may consider the innocent spouse relief rule.
• Having a joint tax return spouses are fully liable for any errors or omissions on the tax return.
• This joint tax liability allows the government to collect the tax owed from one or both spouses. It is a must to evaluate all the liquid and non-liquid assets in marital status.
Alimony vs child support is taxable to the recipient and deductible by the payer. There are a few other common payments that do not qualify as alimony. It includes noncash transfer, payment for use of property, and payment to keep the payer's property

Considering all the consequences of divorce tax, seeking the guidance of a divorce tax attorney in Houston must tackle divorce tax. We at Mitchell Tax Law have experienced attorneys in Houston that help clients to come back to all types of taxes. Our attorney also deals with innocent spouse relief. This act comes into play for both married couples and divorced. It includes a common law marriage under state law and same-sex marriage.

If you are no longer in a relationship and want legal advice on unwanted expenses, book your appointment today and take guidance about the different filing statuses from our experts. We are committed to excellence in the practice of family. We have a dedicated team of certified public accountants, tax attorneys, tax planning strategists, and other professionals that sum up a perfect guidance in your case.

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