Post-Divorce Tax Benefits for Custodial Parents

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April 22, 2012 /24-7PressRelease/ -- Divorce has a significant impact on a couple's tax liability. This is especially true if the couple has minor children.

While they are married, most couples choose to file jointly. By doing so, they are both able to benefit equally from child-related exemptions and deductions.

After the divorce, only one parent can claim a child as a dependent. Usually, the parties will assign dependent status as part divorce agreement. If they don't, then the general rule of thumb is that exemptions are properly assigned to the custodial parent -- that is, the parent the children live with most of the time.

In the rare case that the child spends equal time living with each parent, the exemption should go to the parent who provides the majority of the child's financial support.

Custodial parents receive a number of tax benefits. They include:
- Head of household status: Instead of filing as "single," the custodial parent can file as the head of household. By doing so, he or she will benefit from a higher personal exemption and a lower taxable income. In addition, the custodial parent will also benefit from having more income fall into lower tax brackets.
- Dependency exemptions and credits: Exemptions reduce the amount of income that is subject to income tax. Generally, the custodial parent can claim an exemption for each child who is either under age 19 or under age 24 and a full-time student. In addition, the custodial parent can claim a tax credit for each child under 17. Depending on the parent's income, each credit could be worth up to $1,000.
- Child care tax credits: Custodial parents can claim a tax credit for a percentage of the money they spent on daycare, babysitting, nannies or any other form of child care. The credit varies based on income, but can be worth up to $3,000 for one child or $6,000 for two or more children.
- The Earned Income Tax Credit: The EITC is designed to provide an income boost for low- to moderate-income parents. The size of the credit varies based on the amount of earned income and the number of dependent children. Since child support is not taxed as income, even parents who receive a high level of support may be able to benefit from the credit.

These are just a few of the many tax consequences of divorce. It is always a good idea to seek professional help when filing a post-divorce income tax return in order to make sure that everything is handled correctly.

Article provided by Vergilis, Stenger, Roberts, Davis & Diamond, LLP
Visit us at www.vsrp.com

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Parents Should Be on Their Best Behavior During a Divorce or Separation

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    April 21, 2012 /24-7PressRelease/ -- Parents Should Be on Their Best Behavior During a Divorce or Separation

A recent study confirms what many have suspected: Poor behavior by divorcing parents causes more problems for their children than the divorce itself. Research shows that all children experience some negative effects as their parents separate or divorce but, if a split is particularly traumatic or vicious, the children may suffer the ill effects into adulthood and some never quite recover.

If you are facing a separation or divorce from your spouse or domestic partner, the two of you have the power to make this difficult process less traumatic for your children. In fact, a study funded by the U.S. National Institute of Mental Health found that parents, even those who no longer live with the children, have a lot of control over how their children adjust to the family dissolution.

Most children are resilient, especially if given the emotional tools to cope with their feelings and emotions. When the two most important people in their lives no longer want to be together, it is of utmost importance that the parents try to minimize the impact on their children.

Guidelines for Divorcing Parents

For the sake of your children, try to divorce with dignity.
-Do not talk badly about the other parent in front of your child
-Do not make the children chose one parent over the other -- kids do better when they are allowed to love both equally
-Both parents must clearly explain to their child that, although the parents no longer love each other, they both still love the child
-Do not fight in front of the children -- schedule times out of their hearing to discuss difficult issues (or all issues if you cannot keep from arguing)
-Reiterate to the children that the break-up is neither their fault nor their responsibility
-Do not use the children as messengers between the two of you
-Your children rely on you for their emotional needs, so listen to them but do not burden them with your financial, legal or child custody battles
-Create as much continuity and routine as possible for the children

If you are considering a divorce or dissolution of a domestic partnership, consult with a lawyer knowledgeable with family law matters. Minimize the effects on your children and yourself by letting a professional handle the details of your divorce or separation for you.

Article provided by Law Offices of Gregory & Rooney, PLLC
Visit us at http://www.grrlegal.com/

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Smoking Could Affect More Than Just a Parent's Health

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April 22, 2012 /24-7PressRelease/ -- Courts across the nation are increasingly factoring a parent's smoking habits into child timesharing (formerly "custody") decisions. A recent survey notes that parents who smoke tobacco products regularly are less likely to receive full or joint custody and may be required to agree to take steps to protect their children from exposure to second-hand smoke.

More than 46 million Americans smoke cigarettes, and one in five children are regularly exposed to secondhand smoke in the home. The dangers of secondhand smoke are well established; children exposed to secondhand smoke are more likely to have poor lung function, stunted lung growth and to develop respiratory infections, asthma, ear infections and persistent cold-like symptoms. Infants are at higher risk for Sudden Infant Death Syndrome (SIDS) when around a smoker and they are more frequently hospitalized. Problems can linger into adulthood, increasing the risk of lung cancer and heart disease as well as the probability that the child will grow up to be a smoker him or herself.

While a parent's smoking hasn't previously been taken into account when making timesharing decisions, more and more state courts are acting on the volumes of research data available showing the acute dangers and the carcinogenic properties of secondhand smoke. Action on Smoking and Health (ASH) -- an anti-tobacco group -- reports that courts in nearly half of the states have added parental smoking to the list of relevant factors in custody cases. ASH adds that no court has explicitly declined to consider it in these types of cases.

Courts in many states now weigh parental smoking alongside more traditional factors like income, housing situation, religious preferences and lifestyle when determining the timesharing arrangement that is in the best interests of the child. Some courts have prohibited or limited smoking in parental homes, vehicles and during timesharing. Some courts have modified existing timesharing orders to protect children from smoke exposure, even assigning custody to nonsmoking relatives instead of either parent. When children have preexisting conditions like asthma, courts are even more likely to consider parental smoking a deciding factor. Judges may be skeptical of a parent's claim that he or she will quit smoking, instead taking definitive action to protect the child's delicate lungs.

Many courts have found that constitutional protections for parental autonomy and privacy do not outweigh the state's duty to protect a child's health. Nonsmoking parents who bring a former spouse's smoking habits to the court's attention put the spouse at a disadvantage. While not all courts consider smoking a factor in timesharing decisions, a parent who is serious about getting or keeping substantial timesharing of their children should just quit smoking as soon as child custody becomes an issue. Other steps include limiting smoking to specific times and places even when a child is away.

Courts may not be able to force a parent to quit smoking, but they can limit the parental rights of a smoker in order to protect a child's health. If you or your former spouse are involved in a timesharing dispute where exposure to secondhand smoke is a factor, contact an experienced and Board-Certified family law attorney in your area as soon as possible to learn more about your legal rights and options.

Article provided by Curtis R. Cowan, P.A.
Visit us at www.curtcowanlaw.com

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