Tax Issues in California

Tax Issues in a California Divorce

When divorcing couples are discussing spousal support in California, they need to be aware of the tax implications of their divorce. Federal laws enacted by congress and enforced by the Internal Revenue Service (IRS) are different than laws enforced by the California Franchise Tax Board (FTB). Spousal Support and Taxes IRS rules. Under federal law,…

Protect Your Client from Being Encumbered with His/Her Spouse’s Tax Debt

In case you are not aware, during July 2011, the Internal Revenue Service issued Notice 2011-70, which made a significant change to stipulations for individuals looking for spousal relief under IRC 6015(f).  This notice may help you protect your clients from liability for either underpayment or nonpayment of taxes caused by dishonesty by their spouses. …

Mitigating Taxation of Investment Properties upon Dissolution

Presented by Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA (Full Article) Background When investment real estate is characterized as community property, it is subject to division upon dissolution. Yet it can be highly impractical or inappropriate for divorced spouses to maintain joint ownership of an investment property. Conflicts of interest, unequal influence over management,…

What Family Law Attorneys Need to Know about Analyzing and Dissecting Tax Returns

By Ron J.  Anfuso, CPA, ABV, CFF, CDFA, FABFA Family law practitioners need to be familiar with the numerous types of income tax returns that are essential for financial analysis relevant to several issues in dissolution of marriage cases.  These include matters such as child support, spousal support, division of property, tracing, and Family Code…