June 1, 2023
Taxes can be a confusing and overwhelming topic for many, especially when understanding the rules for claiming dependents. One common question that arises for parents in Florida is whether they can claim a child on their taxes if the child does not live with them. In this blog, we will provide a comprehensive overview of the Internal Revenue Service (IRS) rules for claiming dependents, the qualifications for a child to be considered a dependent, the potential tax benefits of claiming a dependent, and how a family lawyer can help navigate this complex process.
Who Is a Qualifying Child?
A qualifying child is a dependent who meets specific criteria set by the IRS. To be considered a qualifying child, the child must:
- Be related to you (either your child, stepchild, foster child, sibling, or a descendant of any of these)
- Be under the age of 19 at the end of the tax year (or under 24 if a full-time student)
- Live with you for more than half the year
- Not provide more than half of their own support
- Not file a joint tax return (except to claim a refund)
However, these rules have certain exceptions, particularly in cases of divorce or legal separation. The IRS allows a noncustodial parent to claim a child as a dependent if the parent signs a written declaration (IRS Form 8332) agreeing not to claim the child as a dependent for that tax year.
What Are the Tax Benefits of Claiming a Dependent?
Claiming a dependent on your taxes can provide several tax benefits, including:
1. Exemptions
For tax years before 2018, you can claim an exemption for each qualifying child, which reduces your taxable income. However, this exemption has been suspended for tax years 2018-2025 due to the Tax Cuts and Jobs Act.
2. Head of Household filing status
If you are unmarried and support a qualifying child, you may be eligible to file your taxes using the Head of Household filing status, typically resulting in a lower tax rate and a higher standard deduction.
3. Earned Income Tax Credit
If you have a qualifying child and meet certain income requirements, you may be eligible for the Earned Income Tax Credit. This refundable tax credit can significantly reduce your tax liability.
How Can a Family Lawyer Help?
Navigating the complex rules and regulations surrounding claiming dependents on your taxes can be daunting. A family lawyer with experience in tax law can provide valuable guidance and support throughout this process. They can help you:
- Understand the IRS rules for claiming dependents and how they apply to your situation.
- Determine whether your child qualifies as a dependent and if you are eligible for any tax benefits.
- Assist with preparing and submitting any necessary forms to ensure you comply with IRS requirements.
- Provide legal advice and representation in a dispute or disagreement with the custodial parent regarding claiming the child as a dependent.
- Ensure you maximize your tax benefits while adhering to all applicable tax laws.
Conclusion
Claiming a child as a dependent on your taxes in Florida when the child does not live with you can be a complicated process, but it is possible under certain circumstances. Understanding the IRS rules for qualifying children and the potential tax benefits can help you make informed decisions about your tax filing. A knowledgeable family lawyer can provide invaluable assistance in navigating these complex regulations and ensuring you comply with all requirements.
If you are facing any family law issues, don’t hesitate to contact us at Dorsey Law JAX. Our experienced family lawyers can provide you with guidance and representation in all aspects of family law, from injunctions against domestic violence to divorce and post-judgment modifications of support and custody.
May 25, 2023
Blended families are becoming increasingly common in modern society, with more and more people marrying or forming relationships with partners who have children from previous relationships. While these families can be wonderful and fulfilling, they can also present unique challenges when dividing property during a divorce. In this article, we will explore some key considerations for dividing property in a blended family.
What Is a Blended Family?
A blended family is a family that includes children from a previous relationship or marriage of one or both partners. These children may live with the blended family full-time, part-time, or not at all. In some cases, both partners may have children from previous relationships, resulting in a complex web of family relationships.
Why Is Dividing Property in a Blended Family Different?
Dividing property in a blended family can be more complicated than in a traditional nuclear family for several reasons:
1. Multiple Households
In a blended family, multiple households may be considered when dividing property. For example, one partner may own a home they shared with their ex-spouse and children prior to the current relationship, while the other partner may own a separate home they shared with their children. Dividing property in this scenario can be challenging, as each partner may have emotional attachments to their respective homes.
2. Stepchildren
Stepchildren may have legal rights to certain property, depending on the laws of the state in which they reside. This can complicate matters when it comes to dividing property, as stepchildren may have a claim on assets that the biological children of one partner do not.
3. Unequal Contributions
In some blended families, one partner may have significantly more assets than the other partner due to their prior relationships or marriages. This can create tension when dividing property, as the partner with fewer assets may feel entitled to a larger share of the property to achieve a more equitable outcome.
Considerations for Dividing Property in a Blended Family
1. Communication Is Key
Dividing property in a blended family requires open and honest communication between both partners. It is important to discuss each partner’s emotional attachments to their respective homes and other assets, as well as any legal considerations that may impact the division of property.
2. Make a List of Assets
Before beginning the process of dividing property, it is helpful to list all assets owned by both partners, including any assets owned prior to the current relationship or marriage. This will help ensure that all assets are accounted for and can be divided fairly.
3. Consider the Needs of All Children
When dividing property in a blended family, it is important to consider the needs of all children involved, including stepchildren. This may mean that certain assets are allocated differently than in a traditional nuclear family to ensure that all children feel valued and included.
4. Seek Professional Advice
Dividing property in a blended family can be complex, and it is often helpful to seek professional advice from a family law attorney or financial planner. These professionals can guide on legal issues and help ensure that the division of property is fair and equitable for all parties involved.
Conclusion
Dividing property in a blended family can be challenging, but with open communication, careful consideration of all assets and legal considerations, and professional advice, it is possible to achieve a fair and equitable outcome. By keeping the needs of all children in mind and working together to find a solution, blended families can navigate this process successfully and move forward into the next chapter of their lives.
Looking for top-notch legal representation in family law, criminal law, or personal injury cases? Look no further than Dorsey Law JAX! Our team of experienced attorneys is dedicated to providing the highest level of legal representation to our clients in Jacksonville and beyond. Get in touch with us today!
May 18, 2023
Divorce can be a complex and emotional process, and property division is one of the most challenging aspects of divorce. Florida law requires an equitable distribution of property, meaning marital assets and debts must be divided fairly but not equally. Here are six things divorcing couples should know about Florida property division.
Marital vs. Non-Marital Property
The first thing to understand about property division in Florida is the difference between marital and non-marital property. Marital property is any property acquired during the marriage, regardless of whose name is on the title or deed.
This includes income earned during the marriage and assets such as cars, homes, and investments. Non-marital property, on the other hand, has assets acquired before the marriage or after the date of separation, as well as gifts or inheritances received by one spouse.
It’s important to note that non-marital property can become marital property if commingled with marital assets. For example, if one spouse owned a house before the marriage and then used marital funds to pay the mortgage or make improvements, the house may become marital property.
Equitable Distribution
Florida law requires an equitable distribution of marital assets and debts. This means that property is divided fairly but not necessarily equally. The court will consider a variety of factors when determining how to divide property, including:
- The length of the marriage
- The financial resources of each spouse
- Each spouse’s contribution to the marriage (including contributions as a homemaker)
- The value of each spouse’s non-marital property
- Any economic misconduct by either spouse (such as wasting marital assets)
It’s important to note that equitable distribution does not necessarily mean a 50/50 split of assets. The court will strive to divide property fairly and honestly, given the specific circumstances of each case.
Marital Home
The marital home is often one of the most valuable assets to be divided in a divorce. If both spouses agree on how to divide the home, they can do so without court intervention.
However, if they can’t agree, the court will consider various factors when determining who gets the home. These factors may include:
- Each spouse’s financial resources
- Each spouse’s ability to maintain the home
- The best interests of any children involved
If one spouse is awarded the home, they may need to buy out the other spouse’s share of the equity. Alternatively, the house may be sold, and the proceeds divided between the spouses.
Retirement Accounts
Retirement accounts, such as 401(k)s and IRAs, are often some of the most valuable assets to be divided in a divorce. In Florida, retirement accounts are considered marital property if accumulated during the marriage. The court will consider a variety of factors when determining how to divide retirement accounts, including:
- The length of the marriage
- Each spouse’s financial resources
- Each spouse’s contribution to the account
- The tax consequences of dividing the account
Dividing retirement accounts can be complex, and working with an experienced divorce attorney and financial planner is essential to ensure the division is fair and equitable.
Business Interests
If one or both spouses own a business, the business may be considered a marital asset subject to division. The court will consider a variety of factors when determining how to divide a business, including:
- The nature of the business
- Each spouse’s contribution to the business
- The financial resources of each spouse
- The value of the business
- The tax consequences of dividing the business
Dividing a business can be complex, and working with an experienced divorce attorney and business valuation expert is essential to ensure that the division is fair and equitable.
Debts
In addition to dividing assets, the court will also divide marital debts. This includes credit card debt, mortgages, car loans, and other liabilities. The court will consider a variety of factors when determining how to divide debts, comprising:
- Each spouse’s ability to pay
- The purpose of the debt (such as whether it was used for marital expenses or one spouse’s expenses)
- The value of each spouse’s non-marital property
- Any economic misconduct by either spouse (such as running up excessive debt)
It’s important to note that dividing debts does not necessarily mean a 50/50 split. Given each case’s specific circumstances, the court will strive to divide debts fairly and equitably.
Conclusion
Property division in a Florida divorce can be complex and emotionally charged. Working with an experienced divorce attorney who can guide you through the process and help you achieve a fair and equitable division of assets and debts is essential.
By understanding the differences between marital and non-marital property, the principles of equitable distribution, and the factors that the court will consider when dividing property, you can confidently approach the process and achieve a positive outcome.
How Can Attorneys Help
Dorsey Law JAX is top Jacksonville attorneys specializing in family law, criminal law, and personal injury. Clients seeking advice on a variety of family law concerns can turn to our firm. Our services include all aspects of family law, from urgent and short-term issues including restraining orders against domestic abuse to processing a final divorce and post-judgment adjustments of support and custody.
We make an effort to reach agreements through negotiation, but if required, we won’t hesitate to go to court or file an appeal. If our family law approach sounds like it might ease and resolve your divorce, contact The Dorsey Law Firm today to speak with family lawyers in Jacksonville!
