McKinley Irvin Blogs from December 2010

  • Choosing a Collaborative Divorce Attorney

    Choosing your collaborative divorce lawyer is one of the most important decisions that you will make during your case. When choosing any divorce attorney, it is important to find someone who is able to understand your long-term goals and who provides you with the necessary tools to reach those goals. If you are interested in collaborative law practice or collaborative divorce, we recommend choosing an attorney who has significant experience in both traditional litigation and collaborative law. With knowledge of traditional ...
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  • Divorce and Tax Credits

    If you are divorced or divorcing, you will need to reassess which tax credits you can claim on your tax return. Do I Qualify for the Child Tax Credit? The following information is current as of March 2014. The child tax credit begins to phase out at different income levels depending upon your marital filing status. If you are unmarried, the credit begins to phase-out at the income level of $75,000 per year. If you are married and filing a separate return, the credit begins to phase-out at the income level of $55,000 per ...
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  • Divorce & Taxes: Answers to Nine Common Questions

    If you are in the midst of a divorce, tax season can present unanticipated issues. Despite the emotions involved in divorce, always approach tax season in a logical and business-like manner to avoid unwise decisions or errors in filing your taxes. The following are answers to nine of the questions we hear most often from our clients who are in the middle of this difficult transition. If you are divorcing or contemplating a divorce, be sure to discuss tax considerations with your attorney early on in the process. You may also ...
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  • Valuing Professional Practices in Divorce

    Custody, parenting, child support and property and debt division issues are typical in a divorce. However, dentists, doctors, accountants, architects, lawyers and other professionals with independent practices – and their spouses – often encounter additional complexities as they value and sometimes divide their business and professional assets. The methods used to value a professional practice are complex and, as a result, most professionals (and sometimes, their spouses) hire expert business valuators (usually, business ...
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