The Recovery Rebates and Economic Stimulus for the American People Act (February 13, 2008) is the federal “rebate” program highlighted in the media recently.
Who will receive rebate checks?
1. Americans who paid income taxes in 2007 will receive at least $300 for an individual, with married couples receiving at least $600, plus an additional $300 per […]

Posted in Finances/Tax 3 Comments »

US News & World Report helps potential retirees figure out their Social Security benefits with Emily Brandon’s article “Marriage and Social Security Benefits.” The article provides a good overview of the interplay between retirement benefits, spouse’s option to elect earnings records, survivor benefits, and different scenarios that demonstrate the best strategy to maximize benefits.
Some […]

Posted in Finances/Tax 1 Comment »

The New York Times examines divorce and the corporate wife.
Geraldine Fabrikant writes (excerpt):
“Corporate spouses are less likely to be quiet and accepting of what is going on,” Mr. Nissenbaum said. “They are less willing to spend the next 30 years helping their corporate mates climb the ladder even though there might be a far larger […]

Posted in Finances/Tax 1 Comment »

New tax laws challenge the conventional wisdom about where to invest retirement savings.
When it comes to Uncle Sam’s cut of your nest egg, you can pay now or later. Even recent tax legislation hasn’t altered that. What have changed are the tradeoffs of holding particular kinds of assets in tax-deferred and taxable accounts.
It […]

Posted in Finances/Tax 1 Comment »

credit advice for spouses aniticipating divorce

Posted in Finances/Tax No Comments »

10% penalty on early distributions from qualified retirement plans

Posted in Finances/Tax No Comments »

remains deductible from the payer’s gross income and taxable to the recipient’s gross income in the year it is actually paid

Posted in Finances/Tax No Comments »

Women are living longer and enjoying more active senior years than ever before. However, just as this door to unprecedented liesure time is opening up, the traditional means of funding retirement - social security and pension plans - are becoming less able to meet retiree’s needs. Women still have what it takes to do what is necessary.

Posted in Finances/Tax No Comments »

If you’re a woman, chances are you face a tug-of-war of sorts when planning for retirement.

Posted in Finances/Tax No Comments »

IRS may recharacterize the payment as child support

Posted in Finances/Tax No Comments »

Roughly 90% of all women will end up managing their finances alone at some point in their lives. Unfortunately, the first time that many women become involved with some financial matters is during a crises, such as a spouse’s death or divorce. We’ve prepared a list of thought-provoking questions.

Posted in Finances/Tax No Comments »

the three-year recapture rule

Posted in Finances/Tax No Comments »

requirements for spousal support (alimony) to be taxable as income to the recipient and deductible to the payor

Posted in Finances/Tax 1 Comment »

Property transfers between spouses in connection with a divorce creates no gain or loss and no additional income

Posted in Finances/Tax No Comments »

the larger the benefit enjoyed by the petitioner, the less unfairness in paying something toward that benefit and the less likely the IRS will be sympathetic to the claim

Posted in Finances/Tax No Comments »

If the parties are married as of December 31st, they may take advantage of their Married Filing Jointly tax status

Posted in Finances/Tax No Comments »

exemptions for children of divorced parents

Posted in Finances/Tax No Comments »

Head of Household filing status provides more favorable tax rates to an unmarried individual who maintains a household for certain dependents

Posted in Finances/Tax No Comments »

marriage and money

Posted in Finances/Tax No Comments »

seven ways to get your finances in order for 2004

Posted in Finances/Tax No Comments »