Category: Tax Issues

Same-Sex Couples May File Joint Tax Returns

August 30, 2013 | Tax Issues

Icon for author Brian Vertz Brian Vertz

In a press release yesterday, the U.S. Treasury Department announced its ruling that same-sex couples may file joint income tax returns, regardless of whether they reside in states that recognize their marriage or not. In fact, the Treasury Department invites same-sex couples to amend their separate returns to file joint returns for the past three years. Other tax benefits not previously available to married same-sex couples are also described in […]

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Flipping Loss Not Deductible from Income in Child Support Action

May 31, 2013 | Child Support, Court Decisions, Tax Issues

Icon for author Brian Vertz Brian Vertz

The Superior Court in K.J.P. v. R.A.P., 68 A.3d 974 (Pa.Super. 2013) examined losses emanating from a parent’s investment activity apart from his primary employment. In addition to his regular employment as a marketing and product development consultant, Father was engaged in the purchase, renovation and sale of residential properties, owning as many as 20 houses at at time. In order to gain tax advantages, Father testified that he sometimes […]

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How the Fiscal Cliff Tax Deal Affects Child Support

January 04, 2013 | Child Support, Tax Issues

Icon for author Brian Vertz Brian Vertz

Over New Year’s Weekend, our Congress passed legislation to avert the “fiscal cliff,” which would have resulted in dramatic income tax increases. The new law has ushered in tax increases, to be sure, but those tax hikes are not as dramatic as what might have occurred if Congress had not belatedly acted. The Fiscal Cliff tax legislation makes changes to the Internal Revenue Code, including the following: The 39.6% tax […]

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IRS Disqualifies Tax Deduction for Alimony Paid Until Child Finishes College

December 02, 2012 | Alimony, Court Decisions, Tax Issues

Icon for author Brian Vertz Brian Vertz

In Doolittle v. Commissioner, T.C. Summary Opinion 2012-103 (2012), a NON-precedential opinion of the U.S. Tax Court, the taxpayer settled his divorce by entering into a marital settlement agreement, in which he agreed to pay $900 per month alimony until December 31, 2010. The alimony was intended to “help with college costs,” according to the 2003 settlement agreement. The child of the taxpayer and  his former wife would be 23 years […]

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