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February 2016 Archives

Child support payments and tax consequences

Child support often goes unpaid. In 2013, $22.5 billion was received out of a total of almost $33 billion owed around the country. A New Jersey parent who pays child support cannot deduct those amounts for federal income tax purposes, and child support is not considered taxable income for the recipient. It is normally the custodial parent who is permitted to take the dependent tax exemption even if the other parent supplies the bulk of the financial support for the child.

Statistics for marital status by age

Single and married individuals in New Jersey might be interested to learn about the marital status of people based on their age. The statistical categories are divided into never married, in their first marriage, widowed, separated, divorced and married more than once. The data is based on a 2013 individual census that was a part of the Integrated Public Microdata Sample project run by the Minnesota Population Center.

Financial protection during a divorce

Life after a divorce will be different than before the split, but it doesn't necessarily have to be scary. Even though finances will be affected, if certain steps are taken and prudent decisions are made during the negotiations, restarting life after the break-up of the marriage will hopefully mean that the person is not starting financially from scratch. New Jersey residents who are considering a divorce might be interested in learning about the things they can do to protect themselves financially.

How to help children through a divorce

No matter how well estranged New Jersey parents handle their divorce, their children involved may feel shocked, hurt, angry and betrayed. They may have many questions and worries, but experts say parents can do a lot to ease their transition by reassuring them of a few important things.

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