Arizona Family Courts, like all courts dealing with the trauma and fluid emotions surrounding the break-up of families, constantly grapple with the issue of where to draw the line when it comes to resolving parenting disputes between parties. How far should the Court go in micromanaging decisions regarding the raising of children (i.e., adopting a …
Keeping the House After Divorce? Sixteen Questions to Ask Yourself Before Deciding
Selling your home is a big decision. To help you decide what is right for you, ask yourself these questions: What will be the impact (positive or negative) on my children if the home is sold? Can I afford to stay in the house after the divorce? After the divorce, will I be willing to …
Are You My Partner?
Like the poor little bird in the Dr. Seuss book that struggled to identify its mother, it can sometimes prove difficult for partners in a partnership to identify their partners for federal income tax purposes. Partnerships for tax purposes include general partnerships, limited partnerships and limited liability companies taxed as partnerships. The federal income tax …
When Can My Child Decide Who They Will Live With?
If you live in Arizona, the answer is when they turn 18. While some states allow children of a certain age to decide who they wish to live with, Arizona does not allow for a child to make the decision, regardless of the child’s age. Accordingly, until the child turns 18, absent agreement of the …
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How Long is Child Support to be Paid?
The length of time that a parent must pay child support, or a parent can receive child support, varies by state. So it is extremely important that one look to the applicable state’s law when addressing this issue. Tennessee’s law is similar to many other state laws. In Tennessee, as a general rule, child support …
IRS Announces Expanded Penalty Waiver for Individuals with Underpayment of 2018 Estimated Income Taxes
With the 2018 deadline for filing of individual income tax returns just around the corner, taxpayers should be aware of the recent announcement by the Internal Revenue Service (IRS) of expanded relief from penalties for individuals whose 2018 federal income tax withholding and estimated tax payments fell short of their tax liability for the year. …
What Gives Me the Best Chance for Success Post-Divorce?
One of the most common questions I am asked is “what is the smartest thing I can do to survive my divorce and be successful in my new life?” Even though the facts of every divorce are personal and vary dramatically, there is one, simple answer to this question. Manage your expectations. It sounds easy …
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New Tax Bill Introduced to Improve IRS and Taxpayer Protections
On March 28, 2019, U.S. Senate Finance Committee Chairman Chuck Grassley (R-IA) and Senator Ron Wyden (D-OR) introduced new tax legislation referred to as the Taxpayer First Act of 2019. This legislation is largely aimed at improving and modernizing the IRS as well providing taxpayers with greater protections. Highlights of the proposed bipartisan legislation include: Creating …
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Eleven Factors to Help a Court Determine Parenting Time Based Upon the Best Interest of the Child
You may have heard that the best interest of the minor child is used to determine parenting time for a minor child, but what does it mean to say that a court will make the decision based on the “best interest” of the child? In Arizona, the judge considers multiple factors in determining the best …
Don’t Believe Everything You Hear – You Can Terminate Your 401(K) Safe Harbor Match Formula Mid-Year (Usually)
I have recently had two separate employers tell me that they wanted to stop making safe harbor matching contributions to participants in their 401(k) retirement plans in the middle of a plan year. The employers had very different reasons for wanting to eliminate their safe harbor match mid-year, but they had identical stories about what …