Experienced Divorce Attorney Serving Clients in Philadelphia and Montgomery County, Pennsylvania

Divorce can be complicated, especially the financial and tax issues which must be addressed. While the old adage, “nothing is certain but death and taxes” is true, it is important that you are not blindsided by a huge tax bill you were not anticipating.
By focusing on family law for almost 20 years, I have developed a broad knowledge of divorce tax law. I can provide you with information about the possible tax consequences of certain sales, transfers or payments during or after your divorce.

As an experienced divorce lawyer, I can help you explore tax-planning strategies that may avoid or minimize potential tax problems during and after a divorce.
E-mail me or call me at (610) 275-8587 for more information about the interplay of divorce and tax laws. At your initial consultation, we can discuss your concerns about the tax ramifications of certain actions.

Almost any aspect of a divorce settlement or judgment can have tax implications. In general, the IRS treats alimony or spousal maintenance as taxable income for the spouse who receives. Alimony is usually tax deductible for the spouse paying support, if certain conditions are met.

Who has custody of the children may affect which parent can claim the dependent child as an exemption on their tax return. Investment liquidation or the sale of the family home or other business can result in capital gains taxes in certain circumstances. Tapping into a 401K or retirement account too early can result in penalties and taxes.

When one or both spouses had a business during the marriage, is can be important to deal with issues regarding any outstanding employment taxes, sales taxes, and business income taxes. Divorcing spouses should also consider the possibility of future tax liability related to a family business or commercial investments.

To schedule a meeting with me, divorce attorney Deborah Zitomer, e-mail me or call (610) 275-8587.