Tax Considerations in Florida Divorce
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Divorce in Florida brings important tax considerations for spouses including the dependency deduction for children, tax-ability and deductibility of child support, tax-ability and deductibility of alimony, and tax effects of property transfers.
Know the tax consequences of your settlement agreement before finalizing your dissolution of marriage is critical. An unanticipated tax situation may result in an award in a net amount far less than what a party expected. Further, it may be too late after the signing of a marital settlement agreement or entry of a final judgment to correct mistakes.
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