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Tax Tips for the Newly Single

Divorce affects your finances in a number of different ways, including the way you pay your taxes. Before you decide how to file your taxes, talk to your divorce lawyer in The Woodlands to ensure you’re making the right financial decision and to avoid any complications. Oftentimes, I divorce lawyer will refer you to a certified public account for specific direction.

This video explains your options for filing taxes after you file divorce papers. If your divorce is finalized by the last day of the year, you can file as a single person. Your divorce lawyers should work out which spouse gets to claim head of household status, based on each party’s financial contribution. Child support and other post-divorce payments can figure into your tax filings as well. Your divorce lawyer can give you advice on tax filings to shield you from responsibility for your ex’s tax debts and complications caused by incorrect deduction claims.