Chicago Division Of Taxes In Divorce
The division of taxes in a divorce can involve a number of important issues that could have significant implications for both spouses over the short and long term. Many Illinois divorcing spouses fail to consider or are simply unaware of the tax consequences associated with certain outcomes in the divorce process.
- What is the tax impact of obtaining the marital home, an income property or an interest in a privately held business in the marital asset division?
- Will I be required to pay income tax on the spousal maintenance payments I receive?
- Will I be allowed to claim the tax exemptions for my minor children?
These are all important questions to keep in mind at every stage of your divorce proceeding, and a qualified Illinois family law attorney can help you identify a sound strategy designed to produce a settlement that provides a solid foundation for the future. At Boyle Feinberg Sharma (BFS), we provide superior service to clients in the Chicagoland area and North Shore communities in matters of taxation and related issues.
Uniquely Qualified To Accommodate Your Illinois Divorce And Taxation Needs
Attorney Janet E. Boyle has been practicing family law in Illinois for more than 30 years. Having earned her Master of Laws (LL.M.) in taxation, she offers exceptional insight into the tax-related issues that may arise in your divorce and develops proactive solutions to address them.
Contact BFS’s divorce attorneys located in Chicago and Arlington Heights to schedule an initial consultation about your tax concerns. You can reach us by phone at 312-376-8860 or 847-394-3940, or via email.