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Tax Law: alimony tax-deduction replacements

The Alimony Deduction is Gone. Now What?

Untangling finances in a divorce can be excruciating. And due to the TCJA, alimony deductions are no longer an option. How can you offset the axed deduction? Let’s take a look. Pre Tax Cuts and Jobs Act: Alimony was Deductible In the past, alimony payments were pre-tax deductions, and recipients paid income taxes on the Read More

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Help With A Cryptocurrency Divorce

Bitcoin is about to have its tenth birthday — and it’s starting to complicate many a divorce. From asset allocation to tax implications, digital currency is disrupting the business of dissolution. What is Crypto? The cryptocurrency world is a mushrooming market among early adopters, but the average person is only ambiently aware of them. They’ve Read More

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Cryptocurrency Law: Divorce Asset Issues

Divorce and Cryptocurrency

With the help of blockchain technology, innovators are weaving a new financial market. More and more businesses are accepting virtual currency, traditional investors are starting to dabble in tokens, regulations are on the rise, and attorneys are beginning to explore the intersection between divorce and cryptocurrencies. Cryptocurrencies: A Divorce Complication Let’s start with the obvious: Read More

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Chicago Lawyer Blog: Innocent Spousal Relief for Taxes

Divorce Tax: Innocent Spousal Relief

Dear Chicago Tax Lawyer, I am in the midst of a divorce and have some tax-related questions. Specifically, I’m worried about $10,000 in back tax debt still owed by my soon-to-be ex husband. During our marriage, we filed taxes jointly. So my question is: When we divorce, will I still be responsible for that debt? Read More

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Chicago lawyer: Divorce Tax Alimony Matters

Divorce Tax: Alimony Tax Deduction

“Love,” we’re told, “is a many splendid thing.” And here at Gordon Law, we wish every single human a lifetime of joy. But we also know that divorce happens. And when it does, things can get messy — especially financial things. So we’re here to offer some divorce tax advice:  If you’re best option is Read More

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