How can I split spousal support savings between the parties?
The first thing to do is to answer the question, “spousal support savings compared to what?” For this example, we will examine how to split the spousal support savings compared to an “all child support” scenario. 1. Using the Spousal Support What-If screen, you can see the After-Tax Cash of both parties in the “base […]
How can I tell which party should claim the exemptions for children?
Click Analysis & Negotiations > Best Exemptions.
When I change numbers on the What If Analysis, the taxes do not seem to be updating.
The way that What If Analysis works is that it temporarily substitutes your "what if" numbers for the "actual" numbers, then runs the calculations, including the tax calculation. If a tax number along the way is overridden, then the overridden value will be used. As a result, the "what if" will use the overridden actual […]
How can I figure out whether the the parties should complete their divorce in the current year?
Using Family Law Software, you can quickly determine whether the tax consequences are better if they complete the divorce in the current year, versus being married at the end of the year, and by how much. A bit of background: The Filing Status determination depends on the parties’ official marital status on December 31. So […]