A divorce can involve complex tax issues and opportunities for both spouses to save taxes by how a settlement is structured.
Because spousal support can be tax deductible when structured correctly, there are opportunities to shift income and lower overall tax liabilities, savings which can be shared by both spouses. Shifting property division to support can help make a spouse’s buyout of a business interest tax deductible and less painful.
Only with an attorney experienced in representing business owners or professionals can these opportunities be recognized and utilized.