Divorce and Taxes: What You Need to Know

We Chat Divorce Hosts: Catherine Shanahan and Karen Chellew

Special Guest: Hubert Johnson, Tax Attorney, Law Professor, and Founder of Guardian Tax Law

In this insightful episode of We Chat Divorce, hosts Catherine and Karen welcome tax attorney and law professor Hubert Johnson to discuss the complexities of taxes in divorce. With over a decade of experience, Hubert shares valuable insights on managing tax issues before, during, and after divorce. They cover essential topics, including filing statuses, innocent spouse relief, shared custody tax claims, and how to protect yourself from unexpected liabilities.

Topics Covered:

• Common tax pitfalls to avoid in divorce
• The importance of reviewing tax liabilities before finalizing settlements
• Navigating innocent spouse relief and shared custody tax claims
• The financial implications of filing statuses and potential liabilities
• How Guardian Tax Law and My Divorce Solution can provide resources to support clients through these challenges

Key Takeaways:

• Plan Ahead: Understanding tax implications early on can prevent costly mistakes.
• Innocent Spouse Relief: Know the requirements and limitations before assuming it applies.
• Protect Your Financial Standing: Consider the impacts of joint filings and tax settlements on long-term finances.
• Get Informed: Resources like My Divorce Solution’s preparation platform and Guardian Tax Law’s consultations are crucial for smart financial decisions.

Resources Mentioned:

• Guardian Tax Law https://guardiantaxlaw.com/
• Smart Money Culture https://smartmoneyculture.tv/
• My Divorce Solution’s Financial Portrait https://mydivorcesolution.com/financial-portrait/

Listen to the full episode for more expert tips and insights to help you navigate the often-overlooked tax implications of divorce.

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Disclaimer:

The information provided in this podcast is for educational and informational purposes only and should not be considered financial or legal advice. Please consult with professionals in the relevant fields for personalized guidance.

The WeChat Divorce podcast (hereinafter referred to as the “WCD”) represents the opinions of Catherine Shanahan, Karen Chellew, and their guests to the show. WCD should not be considered professional or legal advice. The content here is for informational purposes only. Views and opinions expressed on WCD are our own and do not represent that of our places of work.

WCD should not be used in any legal capacity whatsoever. Listeners should contact their attorney to obtain advice with respect to any particular legal matter. No listener should act or refrain from acting on the basis of information on WCD without first seeking legal advice from counsel in the relevant jurisdiction. No guarantee is given regarding the accuracy of any statements or opinions made on WCD.

Unless specifically stated otherwise, Catherine Shanahan and Karen Chellew do not endorse, approve, recommend, or certify any information, product, process, service, or organization presented or mentioned on WCD, and information from this podcast should not be referenced in any way to imply such approval or endorsement. The third-party materials or content of any third-party site referenced on WCD do not necessarily reflect the opinions, standards or policies of Catherine Shanahan or Karen Chellew.

WCD, CATHERINE SHANAHAN, AND KAREN CHELLEW EXPRESSLY DISCLAIM ANY AND ALL LIABILITY OR RESPONSIBILITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR OTHER DAMAGES ARISING OUT OF ANY INDIVIDUAL’S USE OF, REFERENCE TO, RELIANCE ON, OR INABILITY TO USE, THIS PODCAST OR THE INF