Tax season is always a difficult time of the year. This is when you need to look at your current finances, what you have earned and what you have spent. This can bring up a flurry of unwanted emotions since your sense of self-worth may be affected when looking at the numbers. In our society, a person is often judged on the basis of how much they earn. Many doubts can arise at this time regarding our own self-worth based on our financial situations.
When dealing with a divorce at the same time, these issues can become more complex. It can be difficult to figure out whether you need to file together or separately and what exemptions can be claimed.
Mediating a divorce at tax time can help resolve a lot of these issues. You can use your tax filing as a tool to figure out the shared assets of the marriage and to help determine the value of them. A mediator that is experienced with tax issues can help you sort it all out in order to determine a fair value of your mutual and separate assets.
It’s all about determining values. It is much more than just calculating numbers. The assets that you own will be used to help fund your lives as you move forward separately and these assets will also help fund your children’s lives in the future. It’s important to look at the assets that should be liquidated and those that are important to keep. A mediator can help you work through the entangled emotions that are tied to assets so that they can be seen as tools that can serve a purpose in the future.
An experienced divorce mediator that understands tax questions can help with the following issues:
- Claiming dependents
- Distributing tax refunds
- Tax filing questions
- Alimony payments
- Tax requirements for gifts, stock options, inheritances etc.
There are a lot of different things to take into account when making these decisions such as the income of both spouses, the ages of the children, who has custody and much more. When there is an ongoing divorce and taxes are involved, the fear and frustration of filing taxes can be transformed into a positive plan as you move forward into the future.
Our team of qualified divorce mediators and certified financial planners empower spouses that are divorcing to create effective and sustainable mutual agreements. This includes financial planning for the future and agreements for preparing taxes.
We offer a full range of services for divorcing couples that include the following:
- Financial analysis
- Tax preparation
- Preparing court documents
- Determining child and spousal support
- Handling of assets
- Divorce transition coaching
- Business coaching
- Life coaching
- Divorce coaching
- Much more
We are the educated professionals you need when you are divorcing to help with conflict resolution and the effective closure of the marriage. We will also help you prepare practical solutions for your life as you move forward. Our goal is to help you generate optimized and creative solutions that will result in a resolution that is best for everyone involved.