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Helpful Tips in Preparing Your Post-Divorce Tax Return

In Separation & Divorce, Wealth by Christopher R. Hicks

When you get divorced, one of the absolute last things you want to think about is your taxes. Nevertheless, you know that you are legally required to file a tax return, and many people rely on a tax refund as additional financial cushion each year. Unfortunately, many Americans have been shocked this year by far lower tax refunds than they are accustomed to. This is due to significant changes in tax laws that have taken effect for 2018 tax returns and moving forward. If you have recently divorced or are going to finalize your divorce this year, there are big changes that you should be aware of for preparing your post-divorce tax return. Alimony Tax Implications Have Changed In the past, one of the more palatable features of paying alimony …