{"id":1204,"date":"2016-02-10T11:37:27","date_gmt":"2016-02-10T16:37:27","guid":{"rendered":"http:\/\/events.lindabury.com\/?p=1204"},"modified":"2016-06-02T13:31:16","modified_gmt":"2016-06-02T17:31:16","slug":"tax-tips-for-your-divorce","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/insights\/tax-tips-for-your-divorce.html","title":{"rendered":"Divorce and Taxes: Tips for Those Contemplating Divorce"},"content":{"rendered":"<p>Tax season is now descending upon all of us and for individuals either planning to file for divorce, or those who are presently in the midst of divorce litigation, understanding how your current marital status can impact your tax liability is of significant importance. While each individual\u2019s specific circumstances are unique, this article intends to provide general guidance to assist you in your decisions. By highlighting several areas where Divorce and Tax Law intersect you can make informed choices that will help to ensure that you\u2019re not paying more than your fair share of taxes owed.<\/p>\n<p>For individuals contemplating separation or divorce, tax planning prior to these events can often result in significant savings during the divorce process. Consulting a tax professional to discuss the pros and cons of filing joint or separate tax returns is always advisable for individuals who plan to divorce in the coming months. With respect to previous year\u2019s tax filings, regardless of whether they were filed individually or jointly, gathering copies of these documents today will expedite the discovery phase of your divorce case and help to reduce your overall divorce costs.<\/p>\n<p>Do you and your spouse own your own business? In situations where a business operates as a cash business it is important to collect and maintain information as to the businesses\u2019 monthly income. This information will be important for the valuation and eventual equitable distribution of marital assets. Depending upon your particular circumstances, pre-planning and consultation with your attorney and accountant can often result not only in tax savings but ensuring your overall financial protection.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.lindabury.com\/firm\/insights\/tax-tips-for-your-divorce.html\"  title=\"Continue Reading Divorce and Taxes: Tips for Those Contemplating Divorce\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Highlighting several areas where Divorce and Tax Law intersect so you can make informed choices<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[246,65,93],"tags":[],"coauthors":[186],"class_list":["post-1204","post","type-post","status-publish","format-standard","hentry","category-divorce-family-law-insights","category-insights","category-mcglew"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Divorce and Taxes: Tips for Those Contemplating Divorce &#8212; February 10, 2016 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events<\/title>\n<meta name=\"description\" content=\"Highlighting several areas where Divorce and Tax Law intersect so you can make informed choices\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lindabury.com\/firm\/insights\/tax-tips-for-your-divorce.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Divorce and Taxes: Tips for Those Contemplating Divorce &#8212; February 10, 2016 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. 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Firm News &amp; Events\" \/>\n<meta property=\"article:published_time\" content=\"2016-02-10T16:37:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-06-02T17:31:16+00:00\" \/>\n<meta name=\"author\" content=\"James McGlew, II\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"James McGlew, II\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Divorce and Taxes: Tips for Those Contemplating Divorce &#8212; February 10, 2016 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","description":"Highlighting several areas where Divorce and Tax Law intersect so you can make informed choices","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.lindabury.com\/firm\/insights\/tax-tips-for-your-divorce.html","og_locale":"en_US","og_type":"article","og_title":"Divorce and Taxes: Tips for Those Contemplating Divorce &#8212; February 10, 2016 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","og_description":"Highlighting several areas where Divorce and Tax Law intersect so you can make informed choices","og_url":"https:\/\/www.lindabury.com\/firm\/insights\/tax-tips-for-your-divorce.html","og_site_name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","article_published_time":"2016-02-10T16:37:27+00:00","article_modified_time":"2016-06-02T17:31:16+00:00","author":"James McGlew, II","twitter_card":"summary_large_image","twitter_misc":{"Written by":"James McGlew, II","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.lindabury.com\/firm\/insights\/tax-tips-for-your-divorce.html","url":"https:\/\/www.lindabury.com\/firm\/insights\/tax-tips-for-your-divorce.html","name":"Divorce and Taxes: Tips for Those Contemplating Divorce &#8212; February 10, 2016 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. 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