December Means Divorce for New Yorkers Seeking Income Tax Savings

There are many people who make New Year’s resolutions to work on their marriage. Perhaps they will strive for better communication, liven up the romance, or give their partner more attention and patience. Then there are those who can’t even wait for the ball to drop before dropping their spouse. Why start the year off miserable when you can hit up Tinder and eHarmony with some fresh faces for winter?


That’s exactly what some New Yorkers are doing.Rushing to divorcebefore New Year’s Day. While January is typically the month which sees the highest divorce numbers nationwide (due to lousy Christmas presents, perhaps), New Yorkers are always on the move, and hope to finalize their splits in December, all to pocket the income tax savings they’ll reap… making up for those aforementioned lumps of coal.

As per divorce lawyer Susan Moss of the firm Chemtob Moss Forman & Talbert, as reported in The New York Post, “If you’re divorced as of 11:59 p.m. on Dec. 31st, you can file as single for the entire year.” This could relieve already contentious couples from a large portion of the money matters which are often a major factor as to why couples call it quits in the first place.

The New York Post also notes, as per accountant David Barral, “Higher-income married couples get hit with what’s called the ‘marriage penalty’ because they’re in a higher tax bracket due to combined income.” A couple planning to split anyhow would save tens of thousands of dollars by going their separate ways before the clock strikes 12 in the wee hours of New Year’s morning.

There is hope, as per Time, “The U.S. divorce rate dropped for the third year in a row, reaching its lowest point in nearly 40 years.” So even if New Yorkers are divorcing to save from tax headaches, at least we can say more marriages are lasting. For another year at least.

Are you in New York State and have decided your “for better or for worse” is worse than worse and need some info about planning for a divorce in NYS? Check out Her Justice for the basics of getting a divorce, from filing to costs, to legal necessities, and more.

For the rest of you, give your wife or hubby a kiss and remember why you decided to get married in the first place.

string(3001) "

There are many people who make New Year's resolutions to work on their marriage. Perhaps they will strive for better communication, liven up the romance, or give their partner more attention and patience. Then there are those who can't even wait for the ball to drop before dropping their spouse. Why start the year off miserable when you can hit up Tinder and eHarmony with some fresh faces for winter?


That's exactly what some New Yorkers are doing.Rushing to divorcebefore New Year's Day. While January is typically the month which sees the highest divorce numbers nationwide (due to lousy Christmas presents, perhaps), New Yorkers are always on the move, and hope to finalize their splits in December, all to pocket the income tax savings they'll reap… making up for those aforementioned lumps of coal.

As per divorce lawyer Susan Moss of the firm Chemtob Moss Forman & Talbert, as reported in The New York Post, "If you're divorced as of 11:59 p.m. on Dec. 31st, you can file as single for the entire year." This could relieve already contentious couples from a large portion of the money matters which are often a major factor as to why couples call it quits in the first place.

The New York Post also notes, as per accountant David Barral, "Higher-income married couples get hit with what's called the 'marriage penalty' because they're in a higher tax bracket due to combined income." A couple planning to split anyhow would save tens of thousands of dollars by going their separate ways before the clock strikes 12 in the wee hours of New Year's morning.

There is hope, as per Time, "The U.S. divorce rate dropped for the third year in a row, reaching its lowest point in nearly 40 years." So even if New Yorkers are divorcing to save from tax headaches, at least we can say more marriages are lasting. For another year at least.

Are you in New York State and have decided your "for better or for worse" is worse than worse and need some info about planning for a divorce in NYS? Check out Her Justice for the basics of getting a divorce, from filing to costs, to legal necessities, and more.

For the rest of you, give your wife or hubby a kiss and remember why you decided to get married in the first place.

"

Living la Vida Frugal – Spend Less With Frugal Living

Tiny Home Image by Clay Banks_Unsplash

Everyone says the economy’s healthier than ever, but some of us still find it necessary to make that paycheck stretch…and stretch…and stretch. The better we understand our spending habits, the better we can manage them. Living frugally can benefit you in many ways. You’ll grow more self-reliant, creative, and resourceful as you learn to make

The Motherhood Penalty

Photo by Sai De Silva (Unsplash)

You Lose $20K Each Year Just For Being a Mom You may not know this, but there was a time when smoking was considered “liberated” behavior for women. There was a cigarette company Virginia Slims that was created specifically to attract female smokers during the bad old 1970s. The slogan was “You’ve come a long

What Is Kris Jenner’s Net Worth? 

Kris Jenner

The Momager May Be Worth More Than You Think… Kris Jenner is a pop culture icon for many reasons. While you may have watched her meteoric rise to fame on Keeping Up with the Kardashians — which originally debuted on E! — she’s actually been a fascinating figure in the public eye for ages.  As

What Is Kylie Jenner’s Net Worth? 

Kylie Jenner

The Kar-Jenner family is loaded thanks to their business prowess (and fierce momager, Kris Jenner.) Kim Kardashian said it best when she lamented that it “seems like nobody wants to work these days,” but these sisters never have a day off. And that’s why the topic of Kylie Jenner’s net worth is so intriguing.  But

What Is Taylor Swift’s Net Worth? 

Taylor Swift for "The Tortured Poet's Department"

Taylor Swift is a megastar singer-songwriter known for her narrative songwriting, catchy pop tunes, and versatility across genres like country, pop, and indie folk. She breaks every music record with ease, partially thanks to her die-hard Swiftie fans who follow her with vigor and buy out every single show. And with Taylor Swift’s net worth