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Articles Posted in Divorce

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Taxes and Divorce: 3 Common Mistakes to Avoid

Taxes are already complicated enough. Unfortunately, divorce makes it more complicated. Here are three rules of thumb every divorcee should try to remember: 1. Claim community income before the date of separation: In California, all property acquired during the marriage is presumed to be community property, including any property acquired…

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The Panama Papers: Hidden Assets in Divorce

We’ve been hearing a lot about the “Panama Papers” lately; the leak of millions of documents out of the Panamanian law firm Mossack Fonseca disgorging details of the firm’s wealthy clients hiding money via shell companies in various tax havens. Among those allegedly involved are world leaders, athletes, celebrities and…

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Social Security and Child Support

When I talk to clients about what constitutes income available to pay for child support I ask them to imagine an umbrella…a very BIG umbrella. Everything underneath that umbrella is income available to pay child support.  In California, this has been codified in Family Code Section 4058, which states; “The…

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How Your Divorce May Affect You This Tax Season

We are divorce attorneys, not tax experts, but marriage and finances are so intertwined that inevitably divorce and taxes do intersect. Each year as the IRS tax return filing deadline approaches, we are increasingly confronted by our clients with tax preparation questions. For specific tax inquiries, we advise that you…

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