Robert D. Bordett, CFP, CDFA has not received any gifts yet
As we know the President signed the 2018 tax reform law into effect on December 22, 2017. This is the largest tax code overhaul in more than 3 decades.
Most of the provisions in the TCJA will take effect on January 1, 2018. Most of the provisions affecting individuals are temporary and sunset after 2025, while the majority of the business provisions are permanent.
Posted on January 11, 2018 at 6:26pm
Deep in the 429 pages of the House Republican tax bill is a provision with financial consequences for couples getting divorced.
People looking to get divorced and people writing alimony checks would have to pay tax on those payments. Under current tax law, alimony payments are tax-deductible to the party paying and taxable to the party receiving them. Under the new proposal that would end.
Here is the rationale for making these changes: The proposal would…Continue
Posted on December 6, 2017 at 6:30pm
We are only 10 weeks away from the end of the year. What does that mean for people who have gotten divorced in 2017?
It means you have to get ready to file your tax returns for the year ending 2017 by April 16, 2018 (April 15 falls on a Sunday so you can file your return on April 16) or extend it. Remember, just because you extend…Continue
Posted on November 16, 2017 at 5:12pm
Divorce is one of the most painful experiences anyone can go through. In addition to the emotional component, financial issues weigh heavily on the minds of the parties to any divorce. Unfortunately, there are just some things that don’t follow any logic and you just have to know. Here are a few of the most common:
Posted on October 25, 2017 at 4:30pm
When I got trained in mediation, we were told that you either did solo mediation (one mediator) or co-mediation (two mediators). Since then, divorce professionals have learned that there are endless permutations of effective methods to mediate. In this post, I describe a few of the arrangements I have encountered in the 30 years I have been doing…Continue
Posted on October 4, 2017 at 12:26pm