Tax Talk
Tax Talk
Divorce and Taxes After Tax Reform
In December of 2017, Congress drastically changed the tax code (commonly called TCJA). Over the next two years, they made more changes, some retroactive to January 2017. In the wake of COVID-19 and the economic impacts, Congress has passed several more laws. Some of these laws actually reversed changes made under TCJA. It’s tough for ordinary Americans to keep up with the changes which is why I do it for you.
TCJA had some significant changes to taxes around divorcing couples. I quickly rewrote the portions of my original book on divorce and taxes to address these changes. This book provides the valuable information all people going through a divorce and their attorneys need to avoid financially damaging mistakes.
That sounds like a dry book, but I do make it easy to read and hopefully not too boring. If it is, you will get some well needed sleep. If it isn’t too boring for you, you will get important information. Let me know which you gain ;-)
And after being cooped up for four or more months, many people who were in difficult relationships are throwing in the towel and headed for divorce. I hope you share this with them as needed.
Wednesday, July 22, 2020