Family Attorney
Divorce or separation: which parent gets the dependency exemption?
|
|
The tax code contains a special set of rules that govern dependency exemptions when a couple divorces. The problem is that these rules are rather arbitrary and are designed to minimize IRS involvement in marital disputes. But sometimes the rules can produce what appears to be unfair results. For example, in one recent Tax Court case, both spouses claimed an exemption for one child, but the court ruled that neither spouse was entitled to it. And in another Tax Court case, the spouse who had physical custody of his child for an entire year lost his dependency exemption to the other spouse. The lesson to be learned is that you and your legal advisors should take taxes into account when negotiating a marital settlement. And who gets the dependency exemptions should be high on your list. This is one area where the tax code gives you some flexibility if you and your “ex” can agree to take advantage of it. If you don’t, you could be tripped up by the tax code. Background Generally speaking, you can claim someone as your dependent if … * You provide more than half of the person’s support for the year, and * The person has less than $3,000 of gross income. The gross income test does not apply in the case of a child who is … * Under age 19 or * Under age 24, if he or she is a full-time student for at least five months during the year…. Source : accessmylibrary.com |
Related Articles from Attorney for Family
Divorce and separation affect one in three
More than 20 million people in the UK - a third of the population - are now directly affected by divorce and separation, either through their own relationships or that of their parents, according to a survey published yesterday. The poll, conducted by the Centre for Separated Families, a group aiming to support all parts of a family after separation, also found that only a third of those affected by separation had received professional advice, usually from solicitors. Three-quarters of those getting help said they needed more support, and more than half of people surveyed complained of a lack of attention to
The effects of divorce on children
Divorce may be considered one of the most difficult issues in a child's life. However, the effects are different depending on the child's gender, age and stage of development. Many Jamaicans are in common-law relationships, therefore many children will never experience divorce. But separation also has the same effect on them. During or after a divorce or separation, a child may feel his world, security and stability are falling apart. Clinical psychologist Dr. Ashlie McFarlane points out that children may respond to divorce or separation with feelings of sadness, anxiety, or anger. "These feelings may result in social withdrawal, aggressive
The Children’s Court.
The Children's Court of the City of New York began its separate and independent existence on July 1, 1915. After twelve or thirteen years of dependency or subordination as a branch of the Court of Special Sessions it... Source : query.nytimes.com
Workshop On Divorce And Separation in Fort Washington, Pennsylvania
Alpha Center for Divorce Mediation offers the New Beginnings Workshop on the important issues concerning divorce and separation. The workshop will be held on Saturday, February 28, 2004 at the Fort Washington Campus of Temple University, Commerce Drive, Fort Washington, Pennsylvania from 9 am to 3 pm. Scheduled to speak are respected area professionals: Michael Hughes, Esquire, Yours, Mine, and Ours: Property Division and Alimony”; Financial Freedom for the Suddenly Single” given by Lisa Bodine, a financial expert, Dads House, Moms House, Courthouse: Custody and Support Law” given by Liane Anderson, Esquire and Transitions and New Beginnings” given by psychologist
What Parents Should Do For Children To Do Their Best After Divorce?
Why do some children still do best after divorce and separation? Is there divorce parenting approaches that really work? Read and learn the divorce parenting approaches that really work. Going through the process of divorce is a challenging life transition for both parents and children. During their parents' divorce, children often feel a wide variety of conflicting emotions. It is very important for parents to provide their children with understanding and support. Overall, the children who do best after divorce and separation are those whose parents dominantly employ 5 divorce parenting approaches. They: Listen to children and nurture an independent and empathic