Uncontested Divorce Texas

WAGE GARNISHMENT & PROPERTY SEIZURE Eztexasdivorce.com

UNCONTESTED DIVORCE THE EFFECT OF A DIVORCE ON YOUR TAXES Many individuals are getting ready to go through the divorce process, and oftentimes, they already feel a range of emotions – on the one hand, they feel a sense of relief. But on the other hand, they could be worried about how the divorce process will impact their finances and what the outcome could look like. YOUR FILING STATUS WHEN YOU GET A DIVORCE Once someone has finalized a divorce, they can no longer file their taxes with the federal government using the “married filing jointly” and “married filing separately” statuses. Instead, the options to choose from are “head of household” or “single” based on your situation. eztexasdivorce.com

UNCONTESTED DIVORCE A divorced individual can file taxes as the head of your household and by doing so, it provides major benefits versus filing as a single individual. For instance, the individual can take a larger standard deduction, and also can be eligible for some beneficial tax credits. In addition, the tax rate will be lower. The following criterias must be met: M  ust have an individual—or “qualifying person”—live with them for half of the year.  Must cover at least half the cost of maintaining a household. T  hey are not legally married as of the last day of the year that they are filing their tax return for. eztexasdivorce.com

UNCONTESTED DIVORCE Although it may seem that each parent is sharing the responsibilities of caring and supporting shared children, only the parent who has primary physical custody of the children can treat their children as qualifying individuals and enjoy the status of being the head of the household. If both parents are splitting time with the children equally, the parent with the adjusted gross income that is higher has the right to claim the children as qualifying individuals. When a couple is divorced and both file their own taxes, both parties are not allowed to file as the head of the household. eztexasdivorce.com

UNCONTESTED DIVORCE HOW TO REPORT CHILD SUPPORT AND ALIMONY AFTER A DIVORCE Within the decree, it will state which individuals have agreed to make spousal maintenance or child support payments. If the divorce papers were finalized in 2019 or later and then filed taxes, the individual paying the spousal maintenance can no longer deduct the money spent on spousal maintenance according to the United States’ most recent tax form. For the spouse that is receiving the payments, they are not required to include these payments as part of income that is being taxed. eztexasdivorce.com

UNCONTESTED DIVORCE When it comes to determining child support after a divorce, child support has never been treated as tax deductible for the individual making payments for it, and remains the same under the recent tax reform. You do not have a right to have an attorney appointed to you in a Texas divorce case. In Texas, court-appointed attorneys are only available in criminal based cases. eztexasdivorce.com

UNCONTESTED DIVORCE CLAIMING DEPENDENTS AFTER YOU GET A DIVORCE AND FILING Only one party can claim the children as dependents, and as mentioned earlier, this is usually the parent who is given custody.If the case is settled by agreement, then it will depend on what has been negotiated. eztexasdivorce.com

UNCONTESTED DIVORCE However, if an individual has custody of the children that are being shared with the ex-spouse, they have the option of giving their spouse the right to claim the children as dependents instead. This is manageable by completing and signing Form 8332, which the other party must file with his or her taxes. eztexasdivorce.com

UNCONTESTED DIVORCE Who claims the children as his or her dependents when people divorce and file taxes is an important question because, as mentioned earlier, they get to file as the head of your household if they claim the children as dependents. Also, the parent can take advantage of various tax credits as well as other deductions when the children are listed under them as dependents. eztexasdivorce.com

UNCONTESTED DIVORCE These include the following: C  hild credit, worth $2,000 for each child  Earned income credit C  redit for dependent care and child care expenses  American opportunity credit for any qualified education expense If you have any questions about the topic that we have just covered, please check us out at EZ Texas Divorce. Our family law attorneys offer consultations that are free-of-charge at our office or over-the-phone. eztexasdivorce.com

Contact Us: C.W. Martin Law Office, PLLC Address: 701 W. Belknap St. Fort Worth, TX 76102 Phone Number: 817.813.7777 eztexasdivorce.com