Parental Designations with Big Impact
When you are entering data for child support calculations, there are two small entries relating to parental time that can have big impacts. These are: These selections are buried, so it will not be immediately obvious that the two calculations are using different selections for these items. This blog post will discuss each of these […]
New File Manager
At Family Law Software, we are introducing a new File Manager in the Cloud app, which simplifies the way you work with client files and gives capabilities that you did not have before. The current anticipated release date is December 20, 2024. Key benefits include: Click here to view a video introduction, or keep reading […]
Tax Updates for 2025
Each year, the IRS updates tax brackets and various thresholds to account for inflation. Family Law Software is already prepared for the upcoming tax year. Starting December 15, 2024, all new case files will automatically use 2025 as the current year for income tax calculations, support purposes, and financial projections. After December 15, 2024, […]
New California Child Support Rules
California’s new child support calculation went into effect September 1, 2024, through the enactment of Senate Bill 343 (SB 343). This is the first major revision to the California child support guidelines in years. This new child support calculation introduces significant changes intended to create a more equitable child support result for California families. In […]
Alternating Exemptions
There are a number of tax breaks for parents, which we have covered in an earlier blog post. This blog post zeroes in on the strategy of alternating who claims the child as an exemption. Before the 2017 tax changes, claiming a child as an exemption meant (1) an extra personal exemption and (2) a Child […]
Business Income
Calculating Business Income for Child and Spousal Support Entrepreneurship in the United States is booming. According to the U.S. Chamber of Commerce, there are over 33 million small businesses in America. In 2023 a record breaking 5.5 million new business applications were filed. What does this mean for divorce professionals? Closely held and small businesses […]
Tax Updates for 2024
Every year, the IRS adjusts various thresholds and tax brackets for inflation. Family Law Software is fully updated and ready for the new tax year: Every year, the IRS adjusts various thresholds and tax brackets for inflation. Family Law Software is ready for the new tax year. All new case files will automatically use 2024 […]
Tax Filing Status
With tax season around the corner, individuals who are going through divorce will have important decisions to make regarding their 2023 tax filing status. These include: What filing status can I claim? What filing status should I claim? In particular, individuals who are nearing the completion of their divorce may want to consider the tax […]
Can I Keep the Home?
One of the most important questions on the minds of homeowners who are going through divorce is, “Can I afford to keep the home after the divorce?” More precisely, the party who plans to remain in the home is asking, “Can I afford to maintain the property on my own, given my expenses and […]
Health Savings Accounts
The value of Health Savings Accounts (HSAs) can be easily overlooked by practitioners and clients in a divorce. This could be a costly mistake, as HSAs can be assets with significant value, and the contributions will affect cash flow. This post explains what a Health Savings Account is. Then it discusses both the expenditure and […]