Save Money by Finalizing Your Divorce This Year

If you’re thinking about filing for divorce, it may be in your best interest financially to talk with a San Diego men’s divorce attorney now about the possibility of fast tracking your case before the year is out. Recent Tax Legislation includes huge changes that could have long-lasting impact.
The men’s divorce lawyers at the Men’s Legal Center in San Diego can guide you through the entire divorce process.

Why Divorcing in 2018 Can Save You Money!

 Among the areas impacted by the new legislation are spousal support, property taxes and deductions based upon the number of children you have. 
  •          Spousal support no longer tax deductible for divorces filed after 2018.
For all divorces finalized after Dec. 31, 2018, spousal support will no longer be eligible for tax deductible for the paying person. However, as long as your divorce is finalized in 2018, you will still be able to claim the deduction for the foreseeable future – even if your divorce agreement is modified in the future.

  •          More expensive to keep the family home.
The marital home is often the most expensive investment for couples, but in 2019, it will be more expensive to own a home because the new tax codes reduce the amount of property taxes that can be deducted and the associated mortgage thresholds to meet the deductions. 

  •          Less available in tax deductions for kids.

Because the personal exemption amount for years 2018-2025 has been removed, neither parent will be eligible for the multiplier of children tax deduction. If your children are especially young, you may eventually see an increase in the benefit as it returns to $4,000 per person in 2026.


Facing Divorce in San Diego? Call The Men’s Legal Center.
It makes sense to use the services of San Diego’s best Family Law Firm to secure your post-divorce standing. Whether you need a child support attorney or one that focuses on custody, get in touch with the Men’s Legal Center. You can reach us at 619-234-3838 or via email Info@menslegal.com.
 
      

         

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