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Gross Mendelsohn Blog

A resource to help business owners, nonprofit executives and high net worth families preserve wealth, grow and thrive.

Mark Vogel

Blog Feature

Forensics & Litigation Support

Phantom Income: Pass-Through Entity Income Used for Support in Divorce Cases

Calculating income for support purposes, whether it be child support or alimony, can be complicated. For owners of pass-through entities (“PTEs”), it can be especially difficult.

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Blog Feature

Forensics & Litigation Support

529 Plans Have New Implications for Divorcing Couples

The Tax Cuts and Jobs Act (TCJA) has had a significant impact on divorcing couples. Many divorcing couples and their attorneys are aware of the elimination of the alimony deduction under the TCJA, but fewer are aware of the changes related to 529 plan funds.

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Blog Feature

Forensics & Litigation Support

Tax-Free Transfers Incident to a Divorce – What Qualifies?

Dividing assets in a divorce is rarely a simple matter. It gets even more complicated when there is a transfer of property between spouses after a divorce.I

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Blog Feature

Forensics & Litigation Support

Dependency Exemptions and Child Tax Credits Under the Tax Cuts and Jobs Act

The new Tax Cuts and Jobs Act (TCJA) raises a lot of questions for divorce attorneys. I recently hosted several seminars on the effects of the TCJA on divorcing couples alongside my colleague, Richard Wolf. At these seminars, several questions were raised, which we will individually address in this and future blog posts. In this article, co-authored with family law attorney Carol Ehlenberger, Esq., we will discuss the new dependency exemption and child tax credit.

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Blog Feature

Forensics & Litigation Support

IRA Contributions and Alimony Under the Tax Cuts and Jobs Act

I recently hosted several seminars as part of the firm’s divorce seminar series regarding the effects of the new Tax Cuts and Jobs Act (TCJA) on divorcing couples alongside my colleague, Richard Wolf. At these seminars, several questions were raised which we will individually address in this and future blog posts. Under the current law, alimony is considered income for IRA contribution purposes. However, under the TCJA and as of 2019, alimony will no longer be taxable income for the alimony recipient. This raises the question of whether IRA contributions can still be made based on alimony income. For some taxpayers, alimony could be the main or only source of income.

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Blog Feature

Forensics & Litigation Support

What Every Divorce Attorney Needs to Know about Their Client’s Form 1040

Your brand new client, Mrs. Archer, just filed for divorce from her husband of 15 years. The case is in its very early stages and you want to learn a little more about your new client, her financial situation, the marital assets, and her lifestyle. Where do you begin?

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