An overview of the issues of spousal liability in the world of income tax.John and Jane divorced after five years of marriage and two children. Jane got the children, the house, and...
In December 2017, major tax reform was launched, which concerns individuals and businesses. It is commonly known as the Tax Reduction and Employment Act, TCJA, or Tax Reform. Most...
An overview of spousal liability concerns in the world of income tax.To be able to understand this concept better, we will create a scenario where we have imaginary characters. "For...
A particular problem often arises when one spouse feels that he or she has been unfairly affected by the other spouse's tax liability. Married taxpayers who file a joint income...
Posted by Carmen Garcia on 08/20/2020
Many people are usually confused about the benefits of a spouse or an ex-spouse. People also wonder what happens with their spousal benefits if claimed before or after the full retirement...
Posted by Flynn Financial Group Inc on 04/27/2020
Spousal benefits for social security are very confusing. One main reason for the confusion is different social security ruling for a spouse and ex-spouse. The other is the outcome...
Posted by David Macgregor on 04/03/2020
When a spouse dies, his or her social security benefits may be available to the current or former spouse, depending on the circumstances. The benefit of a social insurance spouse is...
Posted by Elliot Kravitz, ATP on 08/02/2019
Over the last 70 years, child support payments have been deductible by the payer and taxed as income for the recipient (note that significant rule changes occurred in 1984). The previous...
Posted by Elliot Kravitz, ATP on 08/02/2019
The current or former marital partner is where the Social Security benefits go to if the spouse dies, but that depends on certain circumstances. To current spouses, widowed spouse,...