Health & Fitness
The Tax Impact of Alimony Vs. Child Support
Your divorce and the resulting settlement can have a big impact on your taxes, and you need to be informed before you sign on the dotted line.
Even the most amicable of divorces are challenging when it comes to finances, especially when children are involved. The thing we at Advantage 3 think many people going through the process don’t know is that alimony and child support will affect your taxes differently.
“We can always tell, when we look at the tax return or divorce decree, who had the better attorney,” says Janet of Advantage 3 Tax & Financial Services.
If you are currently in the middle of a divorce, call Janet or Susan at 815.478.8000 to ask about how alimony and child support will affect your taxes before your attorney has you sign by the X. If you’re already divorced, Janet and Susan can still review your return and help you maximize your tax savings while minimizing your liability.
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Advantage 3 Tax & Financial Services is a full service firm, offering tax preparation for individuals and businesses, investment and financial planning, payroll services and more. Co-owner Susan is a Dave Ramsey Endorsed Local Provider for Taxes. For more information visit www.advantage3.net or keep up with them on Facebook.
