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PITTSBURGH — Can Paycheck Protection Program funds impact your divorce settlement? Pollock Begg Partner Brian C. Vertz, co-author of “Divorce Taxation,” updated the legal reference book for 2021 to answer such timely questions and provide new information for a post-COVID world. In addition to explaining tax issues arising frequently in family law settlements and litigation, the 19th edition of “Divorce Taxation” details the Coronavirus Aid Relief and Security Act (CARES […]

Pittsburgh divorce attorney Daniel H. Glasser reveals an important tax strategy regarding retirement assets in a divorce. Since it is a pretax asset, if you negotiate for your ex-spouse to receive the retirement assets then they pay taxes on it, not you. If your attorney or CPA is not advising you with an defined tax strategy in mind, contact our family law firm.   Known as a workout specialist on […]

On December 31, 2018, the tax deduction for alimony will be ending under new federal tax laws.  If you are in the middle of a divorce, or thinking about it, you might want to sit up and take notice. As author of the legal tax reference Frumkes & Vertz on Divorce Taxation, I’ve been reporting on and teaching colleagues all about these changes. Here are some explanations why decisive action […]

Pittsburgh divorce attorney Brian C. Vertz of Pollock Begg discusses the necessary components to consider when deciding to file taxes as head of household following separation and divorce. A partner at Pollock Begg since 2001, Brian is a prolific writer and sought-after presenter particularly in his concentration area of family law taxation. His book, Divorce Taxation, is a nationally distributed legal treatise on tax strategy for family lawyers. Brian is […]

Spouses who are separated, but not yet divorced, might wonder whether they should file a joint tax return. When spouses file their taxes together, each spouse can be held fully liable for the tax, as well as any interest or penalties that might accrue if the joint return is not accurate and complete.  In other words, you could be forced to pay additional tax if your estranged spouse fails to […]

Spouses who are separated should act promptly to settle their divorce cases, before changes in the federal tax law make it more difficult next year. Back in December 2017, the U.S. Congress passed a law that makes sweeping changes in federal income tax. Many personal tax deductions have been repealed, including the right to deduct alimony from taxable income. The repeal of the alimony tax deduction affects divorce settlements and […]