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September 27, 2010

How To Make Divorce Less Taxing

Death and taxes may be prominently linked, but many Americans face divorce long before death, and a divorce can be almost as, well, taxing. If you’re careful, it’s possible to divorce and not face major tax bills. But a surprising number of tax flubs are committed every year in this area, even by professionals. Very slight differences in mechanics can yield huge tax differences for one or both spouses. What’s more, your divorce lawyer may not be competent to address these tax rules so you may need a tax advisor.

Here are 10 things about taxes and divorce you should know:

1. Property settlements are tax-free

via How To Make Divorce Less Taxing – Forbes.com.

posted to Divorce,Mediation @ 10:23 am

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