What Are The Tax Consequences Of Child Support?

The laws regarding child support and taxes are very specific. You are not allowed to deduct child support on your taxes if you are paying it, nor are you required to consider it as taxable income if you are receiving it. Because of the complications regarding these and many other tax laws surrounding divorce, you should consult with a lawyer who understands these tax consequences and how they affect you.

At Nichols Law Firm, Drew Nichols offers personalized service and attention to help you resolve your family law problems. He understands the impact that divorce has on any family, and he takes the time to explain what is going on and how it will affect you so you can plan accordingly.

Oklahoma Child Custody And Support Attorneys

Many people don't understand the tax consequences of child support. "What are they and how do they affect me?" is a common question in our office. We will sit down with you to review your financial situation and your court orders regarding your divorce. We will help you determine what incoming or outgoing money will and will not affect your tax return and educate you on how to handle it properly when you file your taxes.

We stay up to date on tax laws in Oklahoma so we know how changes will affect you from year to year, and we can help you prepare for tax season so you do not accidentally trigger an IRS audit.

Dedicated, Caring Child Support Attorneys In Norman And Wewoka

For help in determining how your divorce and future related payments will affect your tax returns, call us at 405-217-4118 or send us an email to discuss your situation.