Cash Flow Planning for Life - Helping you reach your personal & professional financial goals.

Cash Flow Planning for Life

Helping you reach your personal & professional financial goals.

Archive for August, 2012

#8: Divorce and Tax Preparation

Posted by Mark On August 29th

Financial Documents

This is the eighth installment of “Divorce. What You Need to Think About from a Financial Perspective”which can be downloaded for FREE from makara-assoc.com.

Many issues arise when it comes to going through the divorce process. One of the most difficult financial issues in the initial stages is the impact your divorce will have on capital gains and income taxes.

When filing taxes, you must consider issues such as:

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debt man

This is the seventh installment of “Divorce. What You Need to Think About from a Financial Perspective”, which can be downloaded for FREE from makara-assoc.com.

A spouse can be held liable in a divorce for the other spouse’s debts — and it doesn’t necessarily matter whose name the debt is in. When it comes to divorce, there are two forms of debt that courts primarily consider: Living expenses & community property.

Living expenses include the cost of things like mortgage or rent, groceries, utilities, your cable or cell phone, and other, similar expenses. Community property is basically, everything else.

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