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Tiger, taxes and divorce (again)

February 19, 2010

On Valentine's Day, I looked at the tax implications of courtships that turn into marriages.

Tiger Woods apologizes for his marital infidelity

Today, in light of Tiger Woods' statement about his indiscretions, I thought I'd reprise some info about tax considerations when a marriage ends.

Now I'm not saying I doubt the sincerity of Tiger's apology. But I noticed that Elin was not there. Personally, I'm glad she wasn't. He's the one who made such a mess of everything; he needs to clean it up himself.

And I'm not saying I think or hope they will split up. I'm a big fan of marriage, having been in one for 28-plus years.

But most of the time I'm more pragmatic than romantic, so …

It's from that "be prepared" perspective, I give you a few blog items and stories that discuss some of the tax and financial issues couples need to be aware of when they divorce: 

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • It’s about time Tiger Woods came out with his story as it has been sometime. This is his chance to redeem things for him.
    //danice

  • The most obvious impact on taxes, how to lodge a tax return is filed. Married status contract normally provides one of the greatest tax advantages. You can send this status until the divorce is final.

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