• How Will Divorce Affect My Taxes?

    Filing for divorce and having that divorce finalized can have far-reaching effects on your taxes. They can change the way you file taxes, what kind of returns you get back and how much money you get back each year.

    how-do-you-navigate-custody-during-a-divorceIf you haven’t finalized the divorce yet, then you and your spouse can still file jointly. You will no longer be able to do so once the divorce has been finalized, though. Even if you are not divorced yet, you may not be able to file a joint return. In that case, you should be able to file as a head of the household. Once everything is finalized with the divorce, though, you will need to file as single.

    When filing taxes, only one parent can name the child as their dependent. This is very important since whoever gets to claim the child also receive a $1,000 tax credit. If there is a custodial parent listed on the divorce decree, then the decision to claim or not claim the child is pretty cut and dry. Whoever has custodial control gets to claim the child. Without that decree, though, the decision is bit murkier, and you may need to consult the judge or a lawyer.

    This applies to much of the child’s expenses as well. If you are the custodial parent, then you are expected to pay for that child’s education, medical bills and other expenses. You will be able to claim those on your taxes where applicable.

    If you are paying alimony or child support following a divorce, then you can deduct those from your taxes when you file. The alimony only qualifies, however, if child support payments are written into your divorce settlement agreement. You cannot claim payments you made voluntarily as alimony payments. If you paid for medical bills for your child, even if you are not the custodial parent, you may be able to deduct those from your taxes, but it would be wise to ask a lawyer advice about what counts and what doesn’t when it comes to voluntary payments like these.

    There are many other ways that divorce can affect your taxes, and you may not realize all of them on your own. An accountant working in conjunction with your divorce attorney should be the solution to planning properly. It certainly complicates matters, and taxes are already complicated enough. That’s why it’s a good idea to file your taxes with a tax specialist for the first couple years following a divorce.

  • How Do Bail Bonds Work?

    Imagine you have been arrested for a crime that you didn’t commit. It is a scary time, and being in prison is not a nice place to spend any time. You don’t have to stay there though all that you need to do is pay the bail amount which was set by the judge. Unfortunately for you, the bail was set at $20,000, and you simply don’t have that amount of money lying around the house.

    It is possible that you could put up your home the cover the bail, but you don’t want to cause any more stress to your wife and family, so that isn’t an option. Well, the good news is that you can get yourself the services of this Culver City Bail Bondsman (http://angelsbailbonds.com/culver-city/).

    What is a Bail Bond Company?

    culver city jailA bail bond company is a business that will cover your bail for you. They have the funds available to pay your $20,000 bail, and they also have full knowledge of how the whole process works from start to finish. They understand what a stressful situation your partner finds themselves in, and in most cases, this could be the very first time anyone in your family has every experienced the trauma and pain of one of their loved ones being sent to jail. To then have to try and arrange bail, find $20,000 and navigate through the complicated legal process could be both long and painful for all concerned.

    How are Culver City Bail Bonds Different?

    When you employ a good bail bond company in Culver City, they will take care of everything for you from start to finish. As this is their bread and butter, they know the process like the back of their hand and can advise your friends and family on the procedure.

    In most cases, as the defendant, you will be required to pay anywhere between 10 and 20 percent of the bail total to the bail bonds company. So in our example, that would be $2000. Please be aware that regardless of the outcome this money is non-refundable. Once you have paid the bail bond company their deposit, they will jump into action and arrange for the remainder of the bail to be paid in full.

    Depending on the prison where you are kept you could then be released within the hour, but in most cases it can take up to 24 hours, for the formalities to be completed. Once you have been bailed you agree to present yourself to the court as and when required by the judge. If you fail to turn up for the court, the bail bond company will then have to forfeit the entire sum of the bail.

    Within Culver City, however, it is legal for the bail bond companies to utilize the service of a bounty hunter, whose job it would be to find you and return you to court. Once this has been accomplished in most cases, minus some administration costs the bail bond company would get their original sum of money returned. They can then sue you for the remaining portion, plus any expenses they had to incur to get you back to court.