Our Monthly Tip, as featured in Family Lawyer Magazine: The tax filing deadline is fast approaching. If you have been filing jointly with your ex-spouse, filing separately presents new challenges and mistakes can be costly.Here are important tips to keep in mind before you file your tax return this year:Evaluate your filing statusWhat was your marital status on December 31st? An individual’s tax filing status is used to determine several factors on the tax return, including the tax rate.
Feb. 8, 2022— Ever since the Tax Cuts and Jobs Act was passed in 2017, certain taxpayers have felt the pain of limited SALT deductions on their federal tax returns. While this limit is set to expire at the end of 2025, there are a few ways to optimize the deduction today.
When the end of the year is looming and it will soon be time to file taxes, if a divorcing couple was previously married filing jointly, they should consider rethinking their tax filing status. Sharon Klein, president of Family Wealth’s Eastern U.S.
