In this mini-course, initial marital tax matters such as living together, property rights, premarital agreements, filing status, exemptions, and dependents are explored. The detailed support test for children of divorced or separated parents, the tax treatment of back child support, the deduction of divorce costs, and estimated tax payments are reviewed. Emphasis is given to marital property rules, married versus unmarried tax rate comparison, head of household status, and treatment of refunds and deficiencies. ASSIGNMENT
At the start of the materials, participants should identify the following topics for study:
* Marital status
* Joint return
* Separate returns
* Head of household
* Exemptions
* Divorce costs
* Withholding & estimated tax
* Community property states
* Ending the community
* Living together
Learning Objectives
After reading the materials, participants will be able to:
1. Identify marital status and the effect marital status has on filing status, cite the tax advantages and disadvantages of a filing status, and, specify the requirements for filing as head of household and the exemptions associated with spouses and dependents.
2. Recognize the differences between custodial and non-custodial parents including how the status affects dependency, identify the application of special support rules, and specify the dependent child income standards.
3. Determine common law and community property specifying their effect on marital and divorce planning, and identify the circumstances when payments qualify as 71 alimony.
