Effect of “Obamacare” on Tax Dependency Exemption and Required Medical Care for Separated Parents
Parents frequently complain about how their children do nothing but cost them money. However, when it comes to taxes, children can actually save their parents some money. Parents are able to receive certain tax deductions for medical care provided to their dependent child as well as receiving certain personal exemptions for each individual they claim as a dependent. This has the potential to save parents thousands of dollars on their tax returns, since the exemption will reduce their taxable income by a fixed amount. For 2016, the deduction amount ranges up to $4,050 for each exemption claimed.
For parents that are together and file their taxes jointly, there is no controversy as far as the dependency exemptions and deductions are concerned, as their child is seen as the dependent of both of them. When parents are separated or divorced, this becomes a bigger issue since only one parent can claim a child as a dependent for tax purposes. Since child support payments are not deductible or taxable, being able to claim a child as a dependent has important tax implications in regards to parents and the … Read More... “Tax Dependency Exemption: Child Support Payments & Obamacare”
Do you and your spouse BOTH recognize that your marriage is emotionally and all but officially over? Have you been procrastinating moving forward with dissolution and terminating your marriage? Not a pleasant decision, but sometimes a necessary one. Well, there is still time to accomplish and complete that objective around the first of the year.
On October 3, 2016, I was notified that the Ohio Family Law Blog was selected by Feedspot.com one of the 
The Supreme Court of New Hampshire recently held that courts may consider premarital cohabitation when considering the division of a same-sex couple’s assets. In the Matter of Deborah Munson and Coral Beal, the New Hampshire court was faced with a divorce and division of assets of a same-sex couple who lived together for 15 years before a civil union was held, followed by a marriage three years later. During the 15 years before the marriage, the couple essentially acted and functioned as a married couple, both socially and financially. However, the trial court awarded Beal limited alimony and a small percent of the marital estate based upon the short duration of the marriage. Upon appeal, her attorneys argued that the district court should have considered the 15 years the couple cohabitated prior to the marriage.
This week President Obama signed the instrument of ratification to the 2007 Hague Child Support and Maintenance Convention addressing International Recovery of Child Support. This international child support signing was accomplished in great part due to the extensive work done by US family lawyers, by the Hague Convention on Private International Law, and by many others.
