Albany Capital Gains Tax Attorneys
Many people do not realize the potential tax implications inherent in any divorce. Knowledge of the capital gains tax in particular is essential in evaluating retirement assets, the division of other property and support payments as part of a divorce.
The attorneys at Maxwell & Van Ryn, LLP are experienced at handling tax issues, including the capital gains tax. Admitted before the U.S. Tax Court, attorney Paul Van Ryn, LLP can help you understand the tax issues you face in a divorce and develop a strategy to give you the best possible division of assets from a tax perspective.
Capital Gains Tax Can Impact Your Divorce
Capital gains tax is an important factor in evaluating property distribution because it is taxed at a lesser rate. Many people, and many inexperienced attorneys as well, do not realize that taxes are treated differently in different contexts. When going through a divorce, it is important to understand the tax implications of your assets and any support payments in order to balance the impact of capital gains tax against any potential income tax you may be required to pay to the New York Department of Taxation or the Internal Revenue Service (IRS) at the state or federal level.
For example, if you take on a large asset in your divorce settlement, such as a home, capital gains is a major factor in how much you are going to gain. As part of your divorce, our Albany capital gains tax lawyers will complete a full evaluation of your assets, taking into consideration the taxes you may be required to pay. In this way, we can work to maximize the benefit to you after your divorce.
Contact Our IRS Lawyers Serving Schenectady
We are skilled at handling all types of complex divorce tax issues and can help you through every aspect of the divorce process. Call 518-475-0016 or contact us online today to schedule a consultation to discuss tax issues in your divorce. Our law office is located in the Albany suburb of Delmar in upstate New York. We offer free parking.