Once you have begun the divorce process you need to discuss with the other party how to file your taxes. Divorcing spouses can file taxes in the following ways:
- Married Filing Jointly
- Married Filing Separately, or
- Head of Household
Married Filing Jointly
If your divorce is not final by the end of the calendar year, you and your spouse can file still file taxes jointly. Joint returns tax a married couple as if each spouse had the same taxable income. Therefore, when filed jointly, there are usually substantial tax savings.
Married Filing Separately
If you and your spouse do not agree or do not want to file your taxes together, you can file them separately. If you are filing your taxes separately, each spouse will be taxed on their respective earnings separately. However, you will have to allocate income, treating income earned before the separation date as community property, which is taxable half to each, and income earned after the separation date with the earning spouse’s separate property.
Filing separately is much more complicated and costly, as it will take an accountant or tax preparer more time to work on.
Head of Household
If a taxpayer is married at the end of the year but separated, that person may qualify for head of household. You could be considered head of household if:
- You file a separate return
- You maintain your home as the principal place where any children resides
- You are entitled to claim that child as a dependent
- You furnish more than one-half of the cost of maintaining such household during the tax year; and
- Your spouse has not been a member of the household during the last six months of the year
Call Our Divorce Attorneys at Wallin & Klarich
Going through a divorce is extremely complex, and it will have lasting ramifications on your life. That is why you need to speak with a skilled and knowledgeable attorney who will help you through every step of the divorce process.
At Wallin & Klarich, our skilled divorce attorneys have been successfully representing our clients on family law matters for over 30 years. We can help you now.
With offices located in Los Angeles, Sherman Oaks, Torrance, Tustin, San Diego, Riverside, San Bernardino, Ventura, West Covina and Victorville, our skilled family law attorneys are available to help you no matter where you work or live.
Call us today at (888) 749-7428 for a free phone consultation. We will be there when you call.