Taxes and Child Custody
A child’s primary caregivers are often eligible for certain tax exemptions to help them with the costs of raising a child. When parents divorce, there can sometimes be debate over which party is most qualified to receive these exemptions. While they are usually given to the parent with primary custody, the issue can become more ambiguous if parents agree to a shared custody arrangement.
When both parents believe that they are entitled to these tax exemptions, finding a solution to the problem can be difficult. If you need legal guidance related to child custody issues, contact the North Houston child custody lawyers at Garg & Associates, P.C. at 281-362-2865.
How Child Tax Exemptions are Decided
Typically any tax exemptions are given to the primary caregiver in the event of a divorce. Who that person is may be a point of contention, however, especially if there is dual custody. Solutions for this situation may be:
- Agreeing in divorce proceedings to split these exemptions among both parties; this can be put into a formal document by the divorce lawyer.
- Consulting an expert on tax in divorce; these are typically experts in accounting.
- Consider who would make better use of the exemptions if the custody is split: The parent who makes less income may be a better candidate for the tax exemptions as this will allow that parent to spend the extra money on the child or children.
Although tax exemptions should be a very minor aspect of a divorce, the topic does need to be addressed.
Contact Us
To find out more about how tax exemptions for children may factor into your divorce, contact the North Houston divorce lawyers at Garg & Associates, P.C. at 281-362-2865.
