If you are a CPA specializing in tax preparation or a financial professional working with married couples, you may be faced with a client contemplating or going through a divorce.
You, as the primary financial advisor in this client's life, can assist in making the divorce as painless as possible. Brautigam & Co., specialist in divorce tax, will work efficiently and cost effectively with you to aid your client.
We work as a team with attorneys, mediators and financial professionals to help protect the marital estate from tax to preserve the most for both parties. This can be done either through our direct client contact or through advising you. When required, we are qualified as an expert to testify in court either as an advocate or as a neutral party.We can assist you by:
|Determining whether support is alimony for tax purposes|
|Determining cash flow available for support|
|Calculating lifestyle limitations for support purposes|
|Reviewing Marital Settlement Agreements to ensure the result mirrors intent|
|Calculating reimbursements (in cases where one party has paid a community debt with separate income)|
|Calculating or avoiding alimony recapture|
|Identifying and calculating credits to the parties based on family law|
|Addressing issues related to the family residence|
|And, BEST OF ALL, WE HELP YOUR CLIENT SAVE TAX!|
Our fees make sense...
A client had received court-ordered support during the tax year. On its face, it would appear that the support was taxable to the client. However, there were children involved and there were decreases in the amount of support. Part of the support was considered child support for tax purposes. As you know, child support isn't taxable. Our fee, which saved the client over $7,000, was $1,500.
Spousal support and alimony are often two different numbers. If this is the case, you don't want to be finding out about it from the government during an audit.
State tax law does not limit our ability to assist you with the tax consequences of divorce. Tax issues in divorce are governed by the federal tax code, which applies throughout the US.
If you're interested in saving your divorcing client income tax, call or e-mail us.