Divorce can be an emotionally draining process. If you are in the middle of one, you probably just want it to be over. But be careful. Divorce has serious tax implications, and the choices you make now may affect you for many years. Consider the following: * Alimony and child support. Alimony is tax-deductible if you pay it and taxable...

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It’s difficult enough to think about taxes under normal circumstances. Finding yourself amid a divorce action can make this task even more daunting. A little planning, however, may ease this burden. Consider, for example, the following ideas about your tax filing status if your divorce isn’t final by December 31, 2014. Advantages of filing a joint tax return. It is...

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