Divorce is a physically and emotionally challenging phase in anyone’s life. Dealing with personal trauma, and practical and financial matters need to be sought out after careful attention. Divorce can never be easy and the financial implication is overwhelming.
Married couples who pay or transfer property before or after divorce may face tax issues. Couples who owe tax debts also have to deal. A deep understanding of the tax code helps you to make an informed decision and lessen your burden.
Several tax rules come into play when there is a divorce. The attorney better understands various assets such as property investment, gifts, and alimony. They help you to make informed decisions that not only consider immediate division of assets, but also long-term consequences.
In Houston Mitchell Tax Law is a firm that has experienced attorneys who offer sound guidance in this challenging situation. There are specific rules for different types of divorce cases. Depending on the balance or refund a spouse can raise the divorce in three or ten years. Different fields of divorce include family law, child custody, spousal support, division of property, assets, and more.
For those who are considering a divorce or facing a divorce, we are here to give you the right guidance. Determining the tax treatment of alimony and child support, we offer the right guidance on structuring tax payments. By following the right planning strategies and understanding the tax obligations, you surely pay less tax.
Tax attorneys negotiate on advocating for favourable outcomes. Divorcing spouses must evaluate liquid and non-liquid assets. Liquid assets like cash, checks, stocks, savings accounts, etc. Nonliquid assets include real estate, land, retirement accounts, inventory, etc.
If you have real estate property, family home, land, or rental home, our divorce tax attorney in Houstonadvises you to handle assets to mitigate capital gain. We successfully helped many people to resolve marital tax issues including innocent spouse relief, tax audits, property division, and support payment deduction. We better understand tax issues during divorce or legal separation. We provide the overwhelming support and personal guidance needed to navigate this difficult time.
Call us and schedule an appointment to get assistance from our experts to resolve the case. You can also find us as an innocent spouse tax attorney in Houston.
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