After A Divorce, Who Gets To Claim The Kids On Their Taxes?

tax billOur friends at Askey, Askey & Associates CPA (with offices in Leonardtown, La Plata, and Waldorf, Maryland) just sent their newsletter, which is always a good read. It has a very good article covering this topic – when parents divorce, who gets to claim the kids on their taxes? This is an important topic as it can be worth quite a bit of money.

Normally, the legal issue of who can claim the children will be something your lawyer will deal with during the divorce. Any separation agreement or divorce decree will usually address the issue of who gets the kids at tax time. You should be sure to discuss this issue with your divorce lawyer.

This does not necessarily turn your children into bargaining chips. The tax deduction for children is a serious tax matter and can significantly affect your taxable income. It is only wise to consider how it will be allocated in your divorce settlement. 

Conclusion & Next Steps

We are NOT accountants and do not pretend to be. For the tax related details, you should read the original article over at Askey, Askey & Associates. Or call them for assistance.

Want to know more? Discover what you need to know about divorce in Maryland. Click here to see our Free Legal Consumer Guide to divorce cases in Maryland and get answers to your questions today. Click here to read our Free Legal Consumer Guide to Child Custody. Know your options. Be informed. Protect yourself.

Need a divorce lawyer or child custody attorney? Please contact us for a consultation today if you need a Maryland divorce lawyer for your family law case.

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About Southern Maryland Law

 

Andrews, Bongar, Gormley & Clagett is one of the oldest and largest law firms in Southern Maryland. We have been serving clients here for over 50 years. We have more attorneys and a larger staff than most other local law firms, so we can handle a wider variety of legal matters. Each attorney concentrates his or her practice in a few key areas, so you can be assured of the expertise you need.

 

But we are not so big that we forget about personal service! Your legal matter is unique, and requires a personalized approach. We will always remember that. If you have a legal issue, contact us today to schedule your consultation.