Experienced Counsel For Tax Issues After Divorce
Complex and high-asset divorces involve significant financial issues, including filing your taxes during and after finalization. Most matters regarding taxes and the IRS are difficult already but adding the intricacies of a high net worth divorce on top of that can be frustrating.
The attorneys of Kristopher K. Greenwood & Associates, are committed to guiding clients through every aspect of their divorce, including taxes. We will work closely with your certified public accountant (CPA) to file taxes properly. Filing taxes after a divorce can be complicated but combining our efforts with your CPA’s can facilitate the process. We strive to minimize your anxiety and allow you to focus on your future.
Common Tax Concerns Post-Divorce
When filing taxes, you must provide an accurate history of your wages, expenses and other additional forms of income. Our attorneys in Ogden, Lehi and Salt Lake City work with CPAs on a variety of tax complexities after a high asset divorce, including:
- Determining your filing status
- Defining business value interests
- Claiming the right divided assets
- Qualified domestic relations orders (QDRO)
- Filing alimony as a deduction or as income
- Accurately claiming children as dependents
It is crucial to ensure all the information in your taxes is correct. Not all tax mistakes are serious, but small errors can quickly become large problems. For example, if a non-custodial parent purposefully lists their children as dependents, the IRS may classify it as tax fraud, which results in severe consequences.
Proactive Divorce Attorneys
After the stressful experience of a divorce, no one wants to suffer the costs of a tax mistake. When our lawyers work with your CPA, it is easy to avoid the possible tax errors and issues. We understand the details of your situation, and your CPA understands your finances. Together, we create a comprehensive strategy to protect your financial interests. Divorce and taxes are complex, but you do not have to worry. At Kristopher K. Greenwood & Associates, we look out for you and your family through every step of the process.