Margaret Gettle Washburn, P.C.
(770) 676-1191
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Taxes after divorce

When a Georgia couple divorces, both spouses will have to make some significant adjustments. Personal finance is often a concern for the recently divorced, particularly in the area of taxes. Once the marriage ends, there will be changes in how each spouse will file their taxes and what they can expect their tax liabilities to be.

The most obvious change is that the couple will have to file their taxes separately. From there, differences in tax deductions and liabilities will largely depend on several factors, including whether the couple had children, they owned property jointly or a partner is being required to make support payments to the other.

Even if the couple continues to own property together, only one can deduct mortgage interest on their return. The same holds true for the dependent deduction: If the couple had children, only one parent can claim the kids on their tax returns.

Support payments are treated differently depending on the type of payment being made. Alimony or spousal support may be tax-deductible for the person making the payments but is treated as taxable income for the individual receiving the money. Child support, on the other hand, is not reportable as taxable income by the parent receiving the payment, nor is it tax-deductible.

Individuals who are going through a divorce may benefit from speaking with a family law attorney. The lawyer may be able to review the client's case and make recommendations regarding property division and support payments that can minimize tax costs for the client. In addition, the attorney may also be able to assist with other divorce-related issues such as property sales and negotiating a child custody agreement.

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Margaret Gettle Washburn, P.C.
4799 Sugarloaf Pkwy
Building J
Lawrenceville, GA 30044

Phone: 770-676-1191
Fax: 770-963-2828
Lawrenceville Law Office Map

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