UNDERSTANDING TAX ISSUES IS KEY TO A FAIR DIVISION OF PROPERTY AND SUPPORT!
While is is easy to get “hung up” on dollar values as you go through the divorce process, it is even easier to forget that $1,000.00 up front today may be only worth $700.00 or less after consideration of past, present and future tax effects.
We want to make sure that that $1000.00 you believe you are receiving is really $1,000.00!
In divorce and in analysing property division and spousal support (alimony) Matthew M. Kremer will review issues related to capital gain, recapture of depreciation (especially involving rental properties), costs of sale, penalties and taxes on early withdrawals and tax effect of spousal support.
Will a non-custodial parent claim a child for tax purposes? If so, what forms are needed by the Internal Revenue Service? How does this affect child support? Spousal support?
How are you affected by capital gain tax? Residence or non-residence (rental) and for how long? Proposition 13 grandfather clause on property taxes? Depreciation recapture on rental units? Should annual income be treated as taxable and, if so, at what rate? What is the effect on taxes of active military service in a “hazardous zone”?
THE ANALYSIS OF “THE DEAL” IS NOT DONE UNTIL THE TAX AND ESTATE ISSUES HAVE BEEN THOROUGHLY REVIEWED, CONSIDERED AND APPLIED.
We will not hesitate to bring in tax specialists and estate planners as needed, particularly in complex cases. The idea is that our clients can look back years later and KNOW that they were well taken care of and need not worry about future tax or estate issues. You come to the Law Offices of Matthew M. Kremer to have problems anticipated and solved, as far as possible. It is our great pleasure to assist you in that endeavor.