Showing posts with label Head of household. Show all posts
Showing posts with label Head of household. Show all posts

Wednesday, August 6, 2025

Colorado Springs: Avoid Paying for a Spouse’s Tax Mess—Even After You’ve Split

 


We often think of taxes as matter-of-fact, an annual hassle, just numbers and forms. But as this week’s episode of Tax Answers Advisor reveals, for so many people, taxes are about much more than money—they’re about heartbreak, anxiety, and a struggle to find peace when life changes suddenly and dramatically.

In this moving conversation, Marcelino Dodge welcomes CPA and tax resolution expert Patrick Wanzer to discuss a topic close to many hearts: what happens when divorce and taxes collide. Patrick has spent years in the trenches, helping good people through some of the hardest moments of their lives—not just financial crises, but emotional ones, too. The stories he shares are real, raw, and all too common.

Imagine opening a letter from the IRS only to discover your ex’s secret mistakes have left you with a $40,000 tax bill. Or picture yourself finally breaking free from a toxic relationship, only to realize your financial future is shadowed by debts you didn’t even know existed. These aren’t hypotheticals; they’re the daily reality for countless people. The fear, the shame, the overwhelming confusion—Patrick and Marcelino hear it all the time, and their compassion shines through every word in this episode.

This isn't just about tax codes and legal jargon. As Patrick shares, every case is about helping people—maybe you, maybe someone you love—move from shame and anxiety to hope and clarity. His own client, Mary, faced the devastation of a husband’s betrayal, not just emotionally but financially. The help she found made all the difference, not just for her taxes, but for her future.

What struck me the most listening to Patrick and Marcelino is the reminder that tax problems can happen to anyone, and that feeling fear or embarrassment is completely normal. More importantly, there is a way out. There are caring professionals like Patrick, and empathetic guides like Marcelino, ready to stand by your side, untangle the chaos, and give you back the perspective and possibilities for peace.

If you’re staring at sleepless nights, afraid of the next IRS letter or worried that your divorce settlement could explode into a financial disaster, this episode is for you. Watch the video. You’ll find not just answers, but comfort. Above all, you’ll see that you’re not alone—and that with the right help, there really is a path forward.

So take a deep breath. Set aside the stigma. Join us for this special conversation—and remember, you deserve peace, you deserve clarity, and you deserve a future free from the burden of tax fears.

Ready to stop IRS stress and take back control? Click here to schedule your tax relief call now and start your journey toward peace of mind today.

525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com

Saturday, May 17, 2025

Colorado Springs: Navigating Children's Tax Issues in Divorce: A Guide for Parents 👨‍👩‍👦‍

 



Navigating Children's Tax Issues in Divorce: A Guide for Parents 👨‍👩‍👦‍

Divorce can present numerous challenges, one of which is understanding the tax implications related to children. Knowing who claims your child as a dependent can significantly affect both parents' financial health. Here's what you need to know. 📚

Dependency Exemption: The IRS allows for one parent to claim the child as a dependent, impacting eligibility for various tax credits. Typically, the custodial parent—who the child lives with more than half the year—claims this. But exceptions can occur when parents agree otherwise. It's crucial to have this decision clearly documented in your divorce agreement. 📑

Child Tax Credit: Only the parent who claims the child as a dependent can apply for the Child Tax Credit, which can significantly lower tax liability. Communicating clearly about who claims this can prevent future disputes. 💬

Head of Household Status: Filing as the Head of Household can provide tax advantages. To qualify, the parent must have the child living with them for more than half the year and cover more than half the household expenses. 🤝

Future Adjustments: Life changes such as remarriage or shifts in custody could necessitate changes in who claims the child, requiring regular revisitation of the tax strategy. 🔄

Navigating these issues with a clear understanding and thorough documentation can prevent potential financial disputes and ensure both parents benefit from available tax credits related to their children. Consulting a tax professional is always recommended for personalized advice. 📞

By staying informed and proactive, parents can ensure that tax-related children's issues are handled equitably during and after the divorce process. 📈

525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com



Colorado Springs: Stop IRS Anxiety Before It Stops You

When it comes to dealing with payroll tax liabilities, the complexities of the IRS resolution process can cause significant stress and anxie...