Posts Tagged ‘financial’

Jun 25, 2010

Tax Tips for the Newly Divorced

Now that you are single again (or about to be single again), it’s time to take another look at your finances and the tax implications of your choices. The following tips make sure you follow the law and also help you to save money.

Filing a Tax Return

You will need to gather and copy several years’ worth of personal tax returns. If your spouse has a business, you will want to review those business returns even if you didn’t sign them. You need to have access to all information.

May 19, 2010

Six Ways to Protect Your Pocketbook Before, During, and After Divorce

Divorce is expensive and can be a major setback in reaching your financial goals. During this time you’ll need to make serious decisions about your current finances and your future.

The following tips will help keep you on track and your divorce in order.

Tip #1 – Look at Your Current Financial Situation

Now that you’ve decided to divorce, it’s time to sort through your financials. But before you separate, pay for as many joint expenses using joint funds as you can. For example, pay for home repairs and new school clothes for the children using your joint account. After you split funds it becomes more complicated to track who pays for what expenses.