Consumer Education: Taxes
Eleven financial strategies to consider during your divorce
Tuesday, June 1st, 2010
1) IRS rule 72(t) allowing hardship withdrawals without the 10% penalty from 401(k) plans during divorce can help cash flow problems during dissolution proceedings;
2) The Government Pension Offset and Windfall Elimination Provision are federal Social Security rules that often unexpectedly reduce Social Security retirement benefits in divorce situations and may cause inequity;
3) An apples to [...]
Tags: capital loss carry-forward, Dependency Exemption, Division of Retirement Accounts, Divorce Financial Planning, Justin Reckers, Pacific Divorce Management, Qualified Domestic Relations Orders
Posted in Consumer Education: Divorce, Consumer Education: Estate Planning, Consumer Education: Health Care, Consumer Education: Retirement Planning, Consumer Education: Taxes, Divorce Financial Planning, Post divorce financial planning, Professional: Neutral Financial Professional | No Comments »
The Capital Loss Carry-Forward
Monday, January 4th, 2010
The Hidden Asset In Plain Sight
One of the greatest challenges for attorneys, mediators, and judges in family law property division cases lies in the first step of that process; identifying the assets to be divided. We seek verification of and evidence to determine if assets are community, separate, or co-mingled property. Some assets are evident [...]
Tags: asset division, capital loss carry-forward, capital losses, deductions, Divorce Financial Planning, federal tax law, Financial Life After Divorce, Justin Reckers, Pacific Divorce Management, Post divorce financial planning, post divorce wealth management, taxes
Posted in Attorney Education: Taxes, Consumer Education: Divorce, Consumer Education: Taxes | No Comments »
Planning for Post Divorce College Funding and Taxes
Thursday, October 1st, 2009
2009 and 2010 bring a slew of changes to the structure of tax credits and deductions in the Federal Income Tax system. Today I would like to draw attention to the American Opportunity Tax Credit. The American Opportunity Credit expanded and renamed the Hope Credit for tax years 2009 and 2010. The expanded credit increases [...]
Tags: College Funding, Dependency Exemption, Divorce Financial Planning, Financial Life After Divorce, Justin Reckers, Non-Custodial Parent, Pacific Divorce Management, Post divorce financial planning, post divorce wealth management
Posted in Consumer Education: College Funding, Consumer Education: Divorce, Consumer Education: Taxes | No Comments »
Dependency Exemptions for Non-Custodial Parents – IRS Form 8332
Wednesday, August 5th, 2009
The Internal Revenue Service released a memorandum on June 19, 2009, clarifying the rules governing non-custodial parent’s ability to claim a dependency exemption for their child.
Previously, the Service allowed a non-custodial parent to claim an exemption for a child if the custodial parent signed a written declaration releasing claim to the exemption and the non-custodial [...]
Tags: Dependency Exemption, Divorce Financial Planning, Financial Life After Divorce, IRS Form 8332, Justin Reckers, Non-Custodial Parent, Pacific Divorce Management, Post divorce financial planning
Posted in Attorney Education: Taxes, Consumer Education: Divorce, Consumer Education: Taxes | No Comments »
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