Pittsburgh Divorce Attorney Brian C. Vertz Details Complexities of Latest Tax Reforms

April 26, 2018 | Press Releases

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PITTSBURGH — Pittsburgh divorce attorney Brian C. Vertz, a partner of family law firm Pollock Begg Komar Glasser & Vertz LLC, will address legal organizations throughout the tri-state area to help attorneys better understand the implications of changing tax laws on divorcing couples.

Vertz will be a featured speaker at a string of seminars in the coming months designed to shed light on topics of vital importance to couples considering divorce. Some topics to be discussed include: new tax brackets, exemptions and dependency, deductions, alimony, new pitfalls and complexities as well as best practices.

Vertz spoke before the West Virginia Bar Association on April 20 and will field questions from legal professionals across Pennsylvania and Ohio at upcoming events, including:

  • Erie County Bar Association on April 27, 2018
  • Pennsylvania Bar Institute, Philadelphia on June 4, 2018
  • Allegheny County Bench Bar Conference on June 15, 2018
  • Pennsylvania Bar Association Family Law Section Summer Meeting on July 12, 2018
  • The Ohio Chapter of the American Academy of Matrimonial Lawyers on October 8, 2018

Vertz will highlight ways the Tax Cuts and Jobs Act of 2017 will radically impact families going through divorce, including a provision that will completely flip the way alimony payments are taxed beginning in January 2019.

Until now, spouses paying alimony have been permitted to deduct the entire dollar amount from their earned income, lowering their overall tax liability. Alimony recipients have been taxed on the payments they receive. Under the new law, the paying spouse will not be able to deduct alimony payments from income and the receiving spouse will not be required to pay tax on the alimony income.

“This shift is going to drastically change the way divorces are negotiated,” Vertz said. “Higher earning spouses no longer have a tax incentive to pay alimony. Spouses receiving alimony will no longer need to pay taxes on that income, but that savings will not likely make up for a significantly lower payment.”

Author of the nationally distributed legal treatise for tax strategy for family lawyers, “Frumkes & Vertz on Divorce Taxation,” Vertz is adept at explaining technical aspects of tax laws to clients and professionals alike. With an MBA and business valuation training in his background, Vertz concentrates his family law practice on divorce financial analysis, using his knowledge to benefit clients in cases involving closely held businesses, professional practices, executive compensation, and matrimonial tax issues. Vertz also publishes the insightful legal blog, FamilyLawTaxAlert.com, which provides current analysis on tax and financial issues for divorce lawyers and their clients.

About Pollock Begg Komar Glasser & Vertz LLC
An intellectual influencer in the legal marketplace, Pittsburgh-based Pollock Begg Komar Glasser & Vertz LLC focuses on innovative, team-oriented solutions to resolve domestic matters. Driving legal expectations in the industry, the family law attorneys at Pollock Begg serve in numerous leadership positions within matrimonial law organizations and are encouraged to participate in pro bono work, volunteer and community endeavors. Founded in 2001, Pollock Begg is a top-tier law firm as ranked by U.S. News and World Report. For more information, visit PollockBegg.com.

 

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