By John H.W. Cole, Esq. In my previous tax planning article I discussed how graduated tax rates worked and how to save on income taxes by deferring taxable income to later years. The saving results from the fact that (1) a portion of income isn’t taxed at all, due to exemptions and deductions, and (2) […]
Tax Planning for Graduated Rates By John H.W. Cole, Esq. This article and several that will follow explore the elements of tax planning. Because a tax plan can be overwhelming when it is all put together my memos will develop the components one at a time. The first component is taking advantage of graduated tax […]
> Its tax time again, and divorced parents and family law practitioners should be aware of the IRS rule that went into effect in 2009. Prior to that, a non-custodial parent could claim exemptions for their children if it was part of a divorce decree or child support order. The parent need only file a […]
> One of the most frequent questions we get this time of year from clients in the middle of a divorce is “what do I do about my taxes?” For couples without children the answer may be as simple as working out a filing status. For couples with children, the answer can be more complicated. […]