There are special tax issues which pertain to couples who are seeking a separation or divorce.  The first issue is whether to file jointly or separately.  If filing separately, the question becomes who gets to claim the children, the deductions for the home mortgage interest, real estate property taxes, market losses, etc.  If seeking a final divorce, the issue becomes who will claim those deductions.  Additionally, while you are negotiating alimony, keep in mind that alimony is usually taxable income to the person who receives it and a deduction for the person who pays it.  If you are addressing any of these issues, be sure to contact a knowledgeable attorney who can assist you with these issues.  Contact Iandoli & Edens, LLC at (908) 879-9499.

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