Dr. Judith Gerhart, CFP
Certified Divorce Financial Analyst 
« Another Financial Tip: Do an Insurance Check-up | Main | Tip to Help You Divorce »
More Financial Tips: Make Sure Your Tax Returns are Prepared
September 24, 2008
Financial Tip: Make sure your tax returns are prepared in a way that you will be comfortable with for years to come
If you are preparing to divorce but have not yet started and it’s anytime around tax season, this is an area of great potential hazard and you should proceed with caution. Consult your accountant and have him or her advise you not only the possible tax savings now that married jointly filing couples enjoy, but also on the potential future liability you could face in should the returns be found deficient. Know that on returns where you sign jointly, you will be jointly held responsible. This is most often the case whether or not you have any first hand knowledge of the all the financial information on your return.
As always, The best offense is a good defense – and to arm yourself with knowledge is often the best first step in trying to achieve an equitable, fair outcome. By trying to anticipate problems ahead of time you may avoid serious financial issues. And get good – proactive advice throughout your entire process – starting as early as possible in the process.
By CYNTHIA THOMPSON
Posted by Judith Gerhart on September 24, 2008 | Permalink | Post a comment
