When business owners get divorced, their settlement may have profound consequences for the business and other owners. Often, one spouse “sells” or gives up a share of the business to the other spouse. Since most small...
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Alimony Tax Gross-Up Approved
August 9, 2010
In Balicki v. Balicki, 2010 PA Super. 134 (July 30, 2010), the Superior Court considered the husband’s argument that the alimony order provided more income to his ex-wife than she could spend (as shown by her budgetary...
Kids and summer jobs: Some tax reminders
July 12, 2010
My friends at Crawford Ellenbogen LLC know a lot about taxes. One of their principals, Victor Dozzi CPA, recently sent me a great tip about kids who are earning income from summer jobs, and I asked him if I could share it...
Dividing CRATs and CRUTs in Divorce
January 19, 2010
A recently-issued IRS ruling (Rev.Rul.2008-41) addressed the issue of whether a charitable remainder annuity trust (CRAT) or charitable remander unitrust (CRUT) can be divided into two equal trusts upon divorce. A charitable...
Divorce Legal Fees: Tax Deductible?
January 16, 2010
This time each year, divorce lawyers everywhere face the same question from clients: are my legal fees are tax-deductible?...