Minneapolis Divorce | Tax Issues and Children

The tax benefits for a qualifying child are: 1) Head of Household filing status; 2) Child and Dependent Care Credit; and 3) Earned Income Credit.  These three benefits can only be claimed by a parent who meets the definition of a custodial parent pursuant to Internal Revenue Code 152(e)(4)(A).  There can be only one custodial parent for tax purposes for each qualifying child in a given tax year.  Some of the primary areas of dispute in divorce cases, in addition to tax issues, include division of assets and debts, spousal maintenance (alimony), child support, child custody, real estate issues, parenting time, retirement account and pension valuation, non-marital claims and business issues related to income and valuation.

Please call 612-750-4843 to schedule an office consultation to review your Divorce case, or click on Contact Us.

Attorneys Randall A. Smith and Amber C. Bretl represent clients exclusively in Divorce and Family Law cases.

Lake Harriet Law Office represents clients in Minneapolis, Edina, Eden Prairie, Bloomington, Golden Valley, Hopkins, Eden Prairie, Southwest Minneapolis, Linden Hills, New Hope, North Oaks, Hennepin County, Ramsey County, Richfield, St. Paul, St. Louis Park, Stillwater, Washington County, Wright County, Anoka County and Scott County.

 

Published On: December 19, 2012Categories: Family Law Updates

Share This Story, Choose Your Platform!

Want To Learn More?
Call Us Today!

We represent clients throughout the Minneapolis area in Divorce, Financial Issues, Child Custody, Child Support, Parenting Time, Property and Asset Division, Spousal Maintenance and more!

Call 612-750-4843