Tax Planning for Divorce

Divorce planning: Don’t even think of getting a divorce without reading this blog. 1. Anything generally assigned to alimony and not child support is deductible by payor. Child support isn’t deductible but is tax free to recipient 2. Always try to limit alimony so that it doesn’t go up with your income if you are …

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Prenuptial Agreements

Big Tip: If you are going to get married and you have substantial wealth accumulated, I would STRONGLY suggest that you get a prenuptial agreement,which will eliminate any payment from your accumulated assets if a divorce occurs. In order to make the prenuptial agreement valid , you would have to make full disclosure of your …

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Always carefully read over any document that you sign.

ALERT: I have heard of several people getting into big trouble with the government over fraudulent mortgage applications or tax returns. They simply assumed that their accountant or mortgage broker was doing everything correctly and signed these documents without reading them. ALWAYS read over every paragraph or contract or mortgage before you sign it All …

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Hello, World.

Welcome to the first ever post on the Taxbot blog. Well, you know, it’s interesting. You can prepay some of those taxes like state, like property taxes where you can pay it this year and you get a deduction for this year even though it’s paid in part for next year. So you might want …

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