Tax Tips for Divorcing Couples in Virginia

Posted on May 21, 2012 by Hofheimer Family Law

A divorce in Virginiacan make filing your income taxes complicated. How do I file? What can I claim? Do I need a divorce lawyer? These tips will help you your tax preparation go smoother:

  • File according to your marital status on December 31. If the divorce was finalized by then, file as single. If the divorce was still in progress, file as married and you can decide if you want to file individually or jointly. Many choose “married filing separately” to avoid potential fraud charges caused by the other partner not claiming all their income.

  • If you are the primary custodial parent, you have the right to claim your child on the tax forms. If the divorce has not yet finalized, then you may choose to split the exemptions with your soon-to-be ex.

  • If you receive alimony, it must be counted as income. Child support, however, is not taxable.

When it comes to dividing assets for tax purposes, this is when your divorce lawyer can help. The asset division should be outlined in your divorce agreement, and if so, your divorce lawyer can help you with any questions you have.

If you filed for a divorce inVirginiaand have questions about taxes, contact a knowledgeable divorce lawyer. The divorce lawyers at Hofheimer Family Law Firm can help you with your case. Call them today at 1-757-425-5200.