Understanding Tax Consequences of Your Divorce

How complicated has your income tax return been? Have you used a lot of schedules, tables and explanations prepared by a tax accountant? If so, it’s likely you’ll need an accountant to figure out the true worth of assets that can’t be taken at book value. A pattern of real estate investing with a deferral of the gain will also require an analysis. Business assets may have been fully depreciated for taxes, yet still quite valuable on the market. Estimate the degree of complexity in your taxes and financial statements (from simple to impossible to understand) in the left-hand margin. Make a note of any special problems.