Philadelphia Divorce & Taxes Attorney

Havertown Tax Consequences Lawyer

The decisions you make today regarding your divorce and property division can have significant tax consequences down the road, and yet few people think about taxes when they want to fight about the division of assets or seek spousal support.

At the Law Offices of Stacy E. Schwarz, LLC, our clients are given the information they need to make informed decisions about the tax consequences of property division and support. If you can cooperate with your former partner, you may be able to trade tax benefits in a way that helps you both.

With an advanced degree in tax law, attorney Stacy Schwarz can anticipate the tax implications of divorce, property division, temporary alimony during the divorce process, spousal support and alimony. She negotiates property and income solutions that work best for both parties.

For example, child support and spousal support are treated differently under the tax law:

• The parent paying child support cannot deduct that support from his or her taxes, but may be able to claim a child as a dependent on his or her taxes if that has been negotiated as part of the support agreement.
• The person paying spousal support can deduct 100 percent of that support from his or her taxes, and the recipient of spousal support will be required to declare that as taxable income. In some cases, the parties may benefit by negotiating for other forms of support, such as payment of a mortgage and household expenses, rather than receiving spousal support by means of a court order.

The division of IRAs and pension funds can have significant tax consequences. If done improperly, your retirement asset will be hit with both penalties and taxes.

There are many ways you can reduce your taxes, and many mistakes you might make if the tax consequences are not considered during your divorce. These examples are all the more reason to retain an attorney with a Master of Laws in Taxation.

Personal Service in a Convenient Location

When you contact our office, you will speak directly with Philadelphia divorce and taxation lawyer Stacy Schwarz. For prompt, caring and personal attention from an experienced family lawyer, call (215) 241-1117 or contact our Philadelphia law office online.