Know These Divorce-Related Tax Issues for Small-Business Owners

Are you going through a divorce or thinking about ending your marriage?

If you are, I urge you to consider the important tax consequence you’ll face.

Thanks to the Tax Cuts and Jobs Act (TCJA), those consequences have changed for tax-years 2018 and later.

As a small business owner, what do you need to know in order to emerge from a divorce with the most favorable tax results?

You’ll find out when you read my new article titled Tax Tips: Know These Divorce-Related Tax Issues for Small-Business Owners.

Three ways our fact-filled article can help you:

1. We’ll explain the tax-free transfer rule. The general tax-rule in a divorce is that you can split up most of your assets, including cash, without any gift-tax consequences. There are many rules governing the tax-free transfer and we’ll explain them in detail when you read the full article.
2. We’ll tell you the best way to split up qualified retirement accounts. A “qualified domestic relations order” (QDRO) is language that establishes your soon-to-be ex-spouse’s legal right to a percentage of your qualified retirement-plan account balance or benefits. The QDRO language gives you an important tax advantage. All will be explained when you read the full article.
3. We’ll help you understand a lot of other important related issues. We’ll cover the splitting of non-capital-gain assets, how to split up SEP accounts, Simple IRAs, Traditional IRAs, Roth IRAs, and much more. You’ll get the whole story when you read the full article.