Divorced Parents And Children

Tag Archive | "divorced parents and children"

Which Of The Divorced Parent Gets Child Related Tax Benefits?

Posted on 23 December 2009. Tags: child tax benefit, divorced parents and children

The custody of children is a major issue that needs to be resolved well before a couple actually goes for divorce. The custodial guardian gets tax benefits on the child. But then deicing upon the custodial parent and the tax benefit can be quite a complicated task. If you are one of the parents going for a divorce, here are certain things that you should keep yourself aware of. As a rule of thumb, the custodial parent, the one with whom the child stays for the major part of the year and whom the child is dependent is the one who gets tax benefits. But sometimes, the child might also be considered a dependent of the non-custodial parent when the custodial parent has to give him/her the right to take charge of the child. During that period, the non-custodial parent gets the right to claim [...]

Posted in Tax0 Comments