Divorce and separation can be difficult. In between painful legal proceedings and division of assets, tax implications are often the last thing on your mind. No matter how divorce and separation have impacted you, this video will show you their tax implications.
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Link back to this video: https://www.youtube.com/watch?v=YCALktr3Y38
Table of Contents
00:36 — After Tax Cost of Assets When Splitting
02:00 — Don’t Cash in RRSPs
02:38 — Update CRA About Your Single Status
03:38 — Splitting Properties
04:28 — Claim Your Legal Fees
04:49 — Eligible Dependent Credits For Children
About the Author — Allan Madan — Accountant Mississauga Oakville
Allan Madan is a Chartered Accountant and a Tax Expert in the Toronto, Oakville and Mississauga regions of Ontario, Canada.
If you found this article useful, Allan Madan encourages you to visit his website http://madanca.com for additional tax tips and more information on this topic.
Also, get access to Allan Madan’s Free Report, “20 Tax Secrets on How to Beat the Tax Man,” http://www.siteproweb.com/20-free-tax-secrets-from-allan-madan
The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
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