1776 S. Naperville Road
Building B, Suite 202
Wheaton, IL 60189
New client after hours number: 630-690-6077
Wheaton Taxes in Divorce Attorney
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Wheaton, IL Tax Issues in Divorce Attorneys

Implication of Divorce on Taxes Lawyers Serving Clients in Roselle, Carol Stream, and Lombard

Married couples generally enjoy a favored tax status, as they are able to file jointly. Filing a joint tax return generally allows a couple to take greater tax deductions, while enjoying a lower tax rate. Claiming child dependents on your taxes also provides valuable deductions. A divorce can have a significant impact on the amount of taxes you owe.

At The Stogsdill Law Firm, P.C., we are knowledgeable about the tax consequences of getting a divorce. Our attorneys will counsel you on the best strategies to minimize these consequences both during your divorce proceedings, and after your divorce is finalized. We factor tax strategies into property settlement negotiations to make sure our clients’ interests are protected.

Divorce and Child Dependency in DuPage County

Claiming a child as a dependent on your taxes may translate into an exemption of thousands of dollars from your income taxes. When there are multiple children in the family, such exemptions can be very significant. Only one divorced parent may claim a child as a dependent, however, and that parent must meet the requirements to prove child dependency. These requirements include:

  • Maintaining physical custody of the child more than 50% of the year; and
  • The child must be less than 19 years old at the end of the year, or the child must be less than 24 years old and a full-time student.

Which spouse is permitted to take the child dependency exemption is a matter that generally can be negotiated as part of a divorce settlement.

Alimony and Child Support Taxation

Alimony (now known as maintenance) and child support payments are handled differently by the IRS. Alimony is tax deductible for the paying spouse, and it is taxed on the recipient. Conversely, child support is not tax deductible for the paying spouse, and it is not taxed to the recipient. In some cases, it can be beneficial from a tax perspective to lump alimony and child support payments together as unallocated support. This allows the couple to mutually agree to treat the support payments as alimony so that the paying spouse can enjoy the tax deduction, which may result in a lower tax bracket. The amount of unallocated support is generally adjusted so that even after taxes, the recipient receives more than if he or she were to receive child support or alimony separately.

If you are considering filing for divorce or are already involved in divorce proceedings and are concerned about tax consequences, contact us at 630-462-9500630-462-9500 to schedule a consultation. We will discuss your specific circumstances and answer any questions you may have. From our offices in Wheaton, IL, we work with clients throughout Northern Illinois, including DuPage County and the surrounding areas.

  • DuPage County Bar Association
  • Illinois State Bar Association
  • American Bar Association
  • Rotary of Oak Brook
  • Martindale Hubbell
  • American Institute of Family Law Attorneys
  • American Institute of Family Law Attorneys
  • Top 40 Under 40
  • DCBA Law Firm of the Year
    DCBA Law Firm of the Year 2011, 2013
  • Office of the States Attorney 2006-2007
    Outstanding Service to the Office of the State's Attorney 2006-2007
  • Prosecutor 2012
    Outstanding Misdemeanor Prosecutor 2012
  • AVVO Clients Choice
    Clients' Choice
  • I would highly recommend Tony Sammarco to anyone needing a divorce lawyer. He explained all my options to me and he made sure I understood the process. I am glad I had him there to help me through this difficult time.

  • Thank you doesn’t seem enough for all that Bill Stogsdill and Brett Williamson have done not only for me, but my children as well. When I first met both of these gentlemen, each presented themselves with such self-confidence. I instantly knew...

  • The Stogsdill Law Firm and I were able to obtain sole custody of my son. I am fortunate for the outcome and I am to be a father to my son. Secondly, my ex-spouse was awarded limited portion of the marital estate. Bryan Estes is more than an excellent lawyer...

  • Whenever my opinion is asked by any of my clients, friends or family regarding what law firm someone should use for their divorce my answer is always the same –The Stogsdill Law Firm, P.C. The kids and I are forever indebted to Bill and his firm.

  • Bryan's ability to listen and understand my situation and then offer his advice on how we should proceed was the main reasons I hired Bryan as my attorney. That was the best decision I made, for myself and my children. Bryan helped develop action plans as well as a strategy ...

  • I wanted to thank you for your professional and respectful help with my case. Before entering your law firm, I felt as if my life might be at an end. After being greeted by your office manager, I was completely put at ease. Then after my consultation with you, I knew I was in good hands...

  • Mr. Smit has demonstrated a high degree of loyalty and trust worthiness to his work and to his associates. Justin certainly is an asset to your Law Firm, his organization skills are second to none. I have and will continue to recommend Justin ...

  • I recently made the life-altering decision of ending a 30 year marriage. While the support of family and friends was very important, I knew that choosing the right attorney was vital. In large part, my future would be determined by his legal advice and skills…

  • You've clearly established a client-focus in your office -- providing your clients with the warmth and understanding they need as they go through a very difficult time. Thank you, again, for all your help.

  • Taking that step to file for divorce was probably one of the most life changing decisions I have ever made. The process is very painful and emotionally draining. I retained Robert Boyd and Justin Smit of The Stogsdill Law Firm, P.C...