Disclaimer: Our blog posts are for informational purposes only and are not to be considered investment, tax, or financial advice. Cornerstone does not and cannot guarantee the accuracy or applicability of any information presented in our blog posts regarding your individual circumstances. Please review your personal situation with your tax and/or financial advisor.
You might be asked to come up with the cost basis, or “basis”, of some assets during your divorce. The basis is what you paid, or invested, in an asset.
Read MoreWhen you file your income tax return, your filing status depends on your marital status at midnight on December 31st of the year. So if your divorce is finalized at any time in 2023, whether it’s on January 1st or December 31st, you will file as either Single or Head of Household. (If you are not divorced you will choose Married Filing Separately or Married Filing Jointly.)
Read MoreImagine yourself at the end of the divorce process, having worked out how to split assets and what support will be paid (if that applies to your situation.) Now it’s time to sign the paperwork. How will you feel? Scared of what you’re giving up? Or confident about your future?
Read MoreDon’t we all? Who wants to keep track of every penny they spend! But in a divorce it is very important to understand your level of spending.
Read MoreIsn’t the goal of a divorce just to get divorced? It might seem crazy, but setting goals for yourself (other than splitting with your spouse!) can be helpful.
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