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Author: piercej Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121572  
Subject: Owing too much Date: 7/25/1999 5:23 PM
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I separated from my wife in March. Our divorce will be final in September. As a married couple last year, we ended up owing almost $2,000. We didn't own anything and she was contributing to her 401K.

I was not elligibel until January of this year for my 401K. I currently make $52,000/yr and now contribute 8% to my 401K. What else can I do (besides buy a house) to ensure I'm not stuck with a big tax bill at the end of the year? Will the divorce help or hurt this situation? And when do they consider it no longer joint income - when we are officially divorced,or when we officially seperated (that date is noted on the divorce papers?)

I'd appreciate some guidance.
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