What’s Your (Filing) Status? A Deep Dive into Divorce and Taxes

I was talking to one of my colleagues, Marianna Goldenberg, founder of CURO Wealth management, who told me that one of her clients decided to delay her divorce fpamg.com because she wanted the tax deduction for the children. She didnt realize that alimony is taxable so putting off the divorce ended up costing her in the end! With tax season just around the corner this conversation prompted me to write about what you should consider when filing your income tax returns if you are separated or divorced.