Tax Considerations for Divorced Parents with Joint Child Custody

When you have children, the divorce process can be very complex. Not only do you need to decide who the children live with and when, but you also must determine who is responsible for paying what. One issue that often gets overlooked in favor of the all-important child custody agreement is the issue of how to handle claims on your tax forms come tax season. Here are some tax considerations for divorced parents with joint child custody:

Get it in writing. Of course, you know that claiming dependents on your tax returns comes with benefits, in the form of … Read the rest