2019 Federal Tax Code is in Effect for Divorcing Couples in Tampa Bay
If you did not file for a divorce in 2018 you have missed the deadline to get a court order that secured a federal tax deduction on alimony payments. As of January 1, 2019, President Trump’s new tax code will abolish tax deductions on alimony for divorce settlements. This year, it will be all the more crucial to hire an experienced Tampa divorce attorney who can provide the appropriate legal counsel and negotiation skills that are necessary to ensure the very best financial outcome. If you are unaware of the changes that were set forth in the tax code and how it applies to divorce and alimony payments, please read the article below.
Moving Forward with Your Divorce in 2019
Financial Benefits for Divorcing Couples – It takes a skilled Tampa Bay divorce attorney to help their clients understand the financial side of a divorce. Your divorce attorney should have working experience negotiating financial matters such as retirement, bonuses and money earned on business ventures, Social Security Benefits as well as inheritances, which are not viewed as spousal property, may be areas that must be settled. In other words, although the new tax law will impact many who are divorcing, there may be a variety of other negotiating factors available to your divorce attorney that will be beneficial. Hiring a family law attorney who has decades of experience, is focused and knowledgeable in the financial aspects of a divorce, is in your very best interest. Nilo J Sanchez is a highly skilled Florida Family Law & Divorce Attorney with 25 years of experience in every aspect of divorce, including high net worth and high conflict divorces. Attorney Sanchez’s negotiating skills have earned both the respect of his clients as well as his industry peers. If a marital settlement agreement becomes impossible, and your divorce case does go to trial, Mr. Sanchez is a very experienced litigation attorney in family law.
Divorcing and Financial Concerns
Financial concerns are real and understandable concerns for most divorcing couples. The new tax laws mean something very different to different divorcing couples in Tampa Bay. If you are the lesser earner, who has been married a considerable length of time, or a high earner who has been married less than ten years, alimony will likely be a concern if you are divorcing and according to experts, middle class couples who are divorcing may feel the most impact from this new tax law. In short, depending on which side you are, you will need a divorce attorney in Tampa Bay who offers the very best legal guidance and representation.
Protecting Yourself and Your Loved Ones
Divorces may be amicable and fair or, they can be quite ugly. They can start out amicable and financial concerns can quickly turn a “friendly” divorce into a high conflict divorce. Nilo J Sanchez is a calm, focused, yet aggressive Tampa divorce attorney who will attempt to motivate spouses who may not be so willing to divorce amicably. When children are involved, alimony, child support and property division can become the focus of the divorce and children can sadly become the pawn in one way or the other. As an experienced family law attorney in Tampa Bay for over two decades, Nilo J Sanchez will work diligently to ensure that your rights are protected, while minimizing the damage to your children through focused legal solutions and sound counsel. Attorney Sanchez believes that Nothing is More Important than Your Family. Regardless of the changes in tax laws, or any other laws concerning divorce or child custody in Florida, he will always strive for the very best possible outcome in your family law matter.