Who Claims Tax Deductions For The Children

Question: Which parent claims the tax deduction for the children on their return? Answer: Dependent tax deduction for the children generally default to the parent who has primary custody. Even with shared custody, one of the parents has the children in their home more than the other. During a separation, there may not yet be a formal agreement on this issue. In that case, by counting these overnights on the schedule you can determine who actually had more overnights. The exemption also depends upon who pays more than 50% of the child’s living expenses. Even if you are receiving support, which is usually called Pendente Lite (during the penancy of… Read More

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5 Divorce Mistakes That Can Cost You Lots of Money… and Sleep

Whoosh! That’s the sound of money from divorce mistakes flying out of your wallet. You chase after it, but never seem to catch up… You’re doing everything you think you’re supposed to, but nothing is working. Your accounts seem to become self-draining, and you can’t seem to stop the leaks. You wonder what you’re doing wrong…  and why this has become so complicated. Chasing your money, running from meeting to meeting… And your emotions are all over the place, like your money. You’re frantic about your future because it seems everything is unknown. Then… suddenly at 3 am… in a panic… you wake up. It was all a bad dream…… Read More

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Become Confident As You Prepare For Divorce

What Does it Mean to be C-O-N-F-I-D-E-N-T? Confidence comes from feelings of well-being, acceptance of your body and mind (self-esteem), and belief in your own ability, skills and experience. People who are confident share the following important characteristics: C – CAPABLE Confident people are capable.   They know they are good enough, competent, and can handle life’s situations. Admitting you are capable also means knowing that if you cannot handle a situation completely on your own, you can find out where to get the necessary help, information, or skill. Knowing you are your greatest resource protects you from stress. Believing you are capable means that whatever the task, you will handle… Read More

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