Patricia Barrett CFP CDFA
Divorce brings a new tax bracket, new filing status and, possibly, valuable tax credits. Let’s start with some basics. The tax reform in 2017 did away with any deduction for personal exemptions. This was mostly compensated by greater standard deductions. The current standard deductions for each filing status are: $12,550 Single$18,880 Head of Household$25,100 Married The “Head of Household” … [Read more...]
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Information provided in this website is not meant to be construed as legal advice and does not necessarily predict decisions that will eventually be made by a court of law. It is strongly recommended that you consult competent legal advice if your divorce includes children or property issues.