Divorce Taxation – Reduce Tax Liability Before Divorce
Get To Know Your Finances
Why should you be concerned about divorce taxation and how you are structuring agreements and settlements in your divorce?
Many people know little about their own spouse’s finances. This can lead to a rude awakening if you divorce. You could face tax liabilities or even criminal charges based on your spouse’s actions.
Allen Barron, Inc. and Janathan L. Allen, APC provide integrated tax, forensic accounting and financial advisory services for people who divorce. With offices in San Diego, San Francisco, Las Vegas and Phoenix, we represent clients throughout California and nationwide. If you think a divorce is in your future, call 866-631-3470 to arrange a free and confidential initial consultation.
We Work With Your Divorce Attorney
Family law attorneys deal with a wide range of issues relating to the dissolution of a marriage. However, few family law attorneys are qualified to advise you on the divorce taxation implications of splitting marital assets. Our attorneys are.
There are no do-overs when it comes to marital property division. If you and your spouse are separating your financial lives, you only have one chance to do it right. Here are some times where you should seek the opinion of a qualified tax lawyer:
Property transfers. If your spouse is transferring property to you, what is the cost basis? How will you be taxed when you sell it?
Tax status. Given the tax status of an asset, is it equal in value to another asset?
Operating businesses. To obtain your fair share of a business, you first need to value it. There are many ways a business owner can undervalue a business.
Defunct businesses. Even if a business is no longer active, it may contain assets and liabilities that are subject to division.
Foreign assets. Assets held outside of the United States may be subject to FBAR regulations, which have both civil and criminal implications.
Retirement savings. Splitting IRA and 401(k) accounts can trigger tax penalties for early withdrawal if done improperly.
Hidden assets. Our lawyers provide forensic accounting services to uncover assets and liabilities you may not know about.
The time to think about divorce taxation is before you get divorced, not after. As an experienced tax attorney, Janathan Allen provides the protections of attorney-client privilege while applying extensive tax knowledge to your marital property issues.
Contact Us To Learn More About Allen Barron's Services
For more information or to discuss your tax, legal and accounting needs contact Allen Barron or call 866-631-3470 for a free and confidential initial consultation. Learn about the importance of integrated business strategy and coordination across legal, tax and accounting systems.
Offices of Allen Barron, Inc.
16745 West Bernardo Drive, Suite 260
San Diego, CA 92127
5720 Oberlin Drive
San Diego, CA 92121
333 South Sixth Street, Suite 230
Las Vegas, NV 89101
750 B Street, Suite 2610
San Diego, CA 92101
300 Montgomery Street, Suite 410
San Francisco, CA 94101
40 North Central Avenue
Phoenix, AZ 85004