How a Divorce Can Affect Taxes
The end of a marriage is not only tragic, but it also leaves a number of logistical and financial problems in its wake. One of the issues that many separating couples may need to educate themselves about is how a divorce will change their tax burden. Here are four topics that might make the first year of tax-paying after divorce more complicated — and how to deal with them: 1. Filing as married or single depends on when you got divorced. You can continue to receive the tax benefit of filing jointly as a married couple only if you were still officially married for the entire tax year in question. For example, if you are in the process of a divorce that will be finalized in January of 2013, you and your spouse can still claim a married status on your taxes for 2012. If, on the other hand, your divorce is finalized in December 2012, then you will both have to file as single. Filing as head of household is one possible way to avoid the marriage status conundrum and still save some money ...