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Financial Planning / Tax Strategies


Subject:  Re: Owing too much Date:  7/26/1999  12:32 PM
Author:  zorloc Number:  17667 of 127745

As long as according to your state you are divorced by December 31, 1999, you can file as a single.

It is pretty easy to determine if changing your status to single will be a positive or negative change for your taxes. Being married is usually to your advantage in only two circumstances:

1) One partner does not work.
2) One partner earns substantially more than the other (ususally an order of magnitute greater).

If neither of these circumstances apply, it will most likely be benefical to you, tax wise, to become single. But run the numbers yourself!

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