BLANK

Tag: liability

My spouse opens accounts in my name, forges my signature. How to stop it?

My spouse opens accounts in my name, steals checks, forges my signature. How do I get my spouse to stop?

Without telling me, my spouse opens store accounts in my name, steals my checks, forges my name on my checks and accounts. In our state, assets are divided 50/50 in a divorce, and that would be catastrophic financially for me. How do I get my spouse to stop?

This is a great question. The answer is not going to be very comforting.

Unless you are somehow able to prove to the court’s satisfaction that, in fact, your spouse opened accounts in your name without your knowledge or consent, if you cannot prove that your spouse forged your name on contracts or checks, then the poor judge can’t be expected to ignore the documents that show you—albeit falsely—have those accounts and debts and obligations. From the judge’s perspective, your spouse has very compelling evidence (even though but only you know it’s false and fraudulent). The judge needs proof that this evidence is fake before it can disregard that fake evidence.

Fortunately, it has been my experience that frequently a person in your position can often find the proverbial smoking gun that exposes your spouse’s fraud to the court’s knowledge. But if you believe you can prevail in a contest of “your word against mine,” you’re in for disappointment. Don’t leave it to chance.

Utah Family Law, LC | divorceutah.com | 801-466-9277

https://www.quora.com/Without-telling-me-my-spouse-opens-store-accounts-in-my-name-or-steals-forges-my-name-on-my-checks-In-our-state-assets-are-divided-50-50-in-a-divorce-and-that-would-be-catastrophic-financially-for-me-How-do-I-get-my/answer/Eric-Johnson-311

Tags: , , , , , , , , , , , , , , , , , , , ,

Can one spouse or the other avoid paying taxes on a joint tax?

Can one spouse or the other avoid paying taxes on a joint tax?

Tax law does not require married couples to file joint income tax returns simply by virtue of being married. So there is no such thing as a “joint tax” in that regard.

Spouses have the option of filing jointly or separately but are not required to file jointly.

Most married couples choose to file their tax returns jointly because there are generally greater tax savings and refunds available to those who file jointly.

This article also has some very interesting, very useful information about when it may make sense for a married couple to file their income tax returns separately. I have provided some excerpts below.

When married couples should file separate tax returns (by Ray Martin, CBS MoneyWatch)

https://www.cbsnews.com/news/when-married-couples-should-file-separate-tax-returns/

Unreimbursed medical expenses

“Unreimbursed out-of-pocket medical expenses can be claimed as an itemized deduction for amounts that exceed 7.5 percent of the taxpayer’s adjusted gross income. But if a couple has AGI of $140,000 and one spouse has incurred $10,000 of out-of-pocket medical expenses, none of these medical costs are eligible because they don’t exceed the 7.5 percent threshold, which in this example would be $10,500.

“However, if this couple files separately and the one who incurred the medical expenses of $10,000 has AGI of just $30,000, then $7,750 of the medical expenses could be eligible. Combined with other allowable deductions (charitable donations, mortgage interest, the SALT deduction limit of $5,000 for a married separate filer), this could significantly exceed the standard deduction for separate filers, which is $12,000 for each.

You don’t trust your spouse

“A very good reason good reason to file separately is because you don’t feel comfortable signing a joint tax return with your spouse, which both spouses must do when filing jointly. When you file jointly, you take full responsibility with your spouse, and both signers are responsible for the completeness and accuracy of the entire tax return, and each will each bear full responsibility to the IRS for any additional tax, penalty or interest due on an incorrect tax return.

“If you don’t want to merge your tax life with your partner, choosing the separate filing status offers a degree of financial protection because you’re responsible only for your own separately filed tax return.

Separated spouses

“Another good reason to file separate tax returns is that you and your spouse live separately but aren’t yet divorced. In that case, separate returns can help keep your finances separate. This can be especially beneficial if one of the spouses can qualify for head of household status because he or she is supporting the dependent children.

*****

The marriage penalty

“Another closely related tax topic involving marital status concerns the so-called marriage penalty. It refers to the situation when two people with the same income would pay more tax if they get married and file a joint return than if they stay single and file separately as singles.”

To find out whether it makes sense for you and your spouse to file separately or jointly, it’s worth consulting an accountant or tax preparer now, so that you are prepared to file your best return come April 15th. The fee charged for a consultation is well worth it for what it can save you in taxes.

Utah Family Law, LC | divorceutah.com | 801-466-9277

https://www.quora.com/Can-one-spouse-or-the-other-be-able-to-avoid-paying-taxes-on-a-joint-tax-Is-that-considered-fraud/answer/Eric-Johnson-311?prompt_topic_bio=1

Tags: , , , , , , , , , , , , , , ,

Why do some lawyers have “PC” after their name?

“PC” stands for “professional corporation”. Many law firms choose to be formed as professional corporations, instead of as partnerships, because the corporate structure provides some protections to the shareholders against personal liability for the acts and debts of the business. Although PCs don’t offer the level of personal liability protection of S corps or LLCs, this structure does protect owners from malpractice claims filed against other associates. PCs must usually be approved by the state agency that licenses the professionals. Also, PCs will not protect you against malpractice suits, but will eliminate your liability for claims directed at your associates (see S Corp Vs. Professional Corp Vs. LLC).

Utah Family Law, LC | divorceutah.com | 801-466-9277

https://www.quora.com/Why-do-some-lawyers-have-a-PC-after-their-name/answer/Eric-Johnson-311

Tags: , ,
Click to listen highlighted text!