Robert G. Smith, PLLC

Tax tips for New Yorkers who recently divorced

Many New York parents get divorced each year. Figuring out how to handle taxes following the breakup of a marriage may seem complex, but there are a few simple things to keep in mind.

After a divorce, it is important for people to make certain that they file as single since they are no longer married. They will also want to make certain that they keep their Social Security numbers separate from their ex-spouse's numbers so there is no confusion. This means keeping financial records separate as well.

Divorced parents who are paying both alimony and child support need to make certain to know what amount that they can claim. Amounts designated as child support are not deductible by the payer, while money designated as alimony in a divorce order is. Recipients do not need to report the child support on their income tax returns, but alimony is treated as income for tax purposes and thus must be reported. Finally, while people cannot deduct legal fees associated with their divorce, they may be able to deduct such fees that are associated with getting tax advice concerning the process.

In a divorce case, spousal support, child custody, property division and child support may all be at issue. Whether or not a court orders spousal support may be determined based on several factors. The amount of child support may be based on both the amount of time the child will spend with each parent as well as the applicable child support guidelines in the state. People may want to get help from a lawyer for assistance with trying to negotiate an agreement that covers these matters.

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