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Subject Author Date
Does california pre-nup affect fed. taxes? none 03-16-2008
Posted by none on March 16, 2008, 10:15 am
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 Hi all:

I am going to be getting married later this year. We both live and
work in California. My spouse makes considerably less money than I
do. I understand that the IRS will insist that 50% of our joint
income be claimed on each of our returns if we choose to file
separately. While I'm not sure that we will be filing separately, I'd
like to maintain all our possible options. Does a pre-nuptual
agreement allow our incomes to be treated separately for income tax
purposes (both federal and state?)

Thanks!

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Posted by Alan on March 16, 2008, 1:57 pm
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 none wrote:
> Hi all:
>
> I am going to be getting married later this year. We both live and
> work in California. My spouse makes considerably less money than I
> do. I understand that the IRS will insist that 50% of our joint
> income be claimed on each of our returns if we choose to file
> separately. While I'm not sure that we will be filing separately, I'd
> like to maintain all our possible options. Does a pre-nuptual
> agreement allow our incomes to be treated separately for income tax
> purposes (both federal and state?)
>
> Thanks!
>
A prenuptial agreement may contain a clause that specifies how
income of each is to be considered (community or separate). Note
that these agreements should be prepared by attorneys with
expertise in family law. Also note that the nine states with CP
laws differ when it comes to the definition of community income.
Another reason to use an attorney.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Katie on March 17, 2008, 11:50 pm
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> none wrote:
> > Hi all:
>
> > I am going to be getting married later this year.  We both live and
> > work in California.  My spouse makes considerably less money than I
> > do.  I understand that the IRS will insist that 50% of our joint
> > income be claimed on each of our returns if we choose to file
> > separately.  While I'm not sure that we will be filing separately, I'd
> > like to maintain all our possible options.  Does a pre-nuptual
> > agreement allow our incomes to be treated separately for income tax
> > purposes (both federal and state?)
>
> > Thanks!
>
> A prenuptial agreement may contain a clause that specifies how
> income of each is to be considered (community or separate). Note
> that these agreements should be prepared by attorneys with
> expertise in family law. Also note that the nine states with CP
> laws differ when it comes to the definition of community income.
> Another reason to use an attorney.
>


Also, the lower-earning spouse should not sign such an agreement
solely for tax purposes, nor for any purpose without having his or her
own, separate legal advice.

Katie in San Diego

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Dick Adams on March 18, 2008, 12:43 am
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> I am going to be getting married later this year.
> We both live and work in California. My spouse
> makes considerably less money than I do. I
> understand that the IRS will insist that 50% of
> our joint income be claimed on each of our
> returns if we choose to file separately. While
> I'm not sure that we will be filing separately,
> I'd like to maintain all our possible options.
> Does a pre-nuptual agreement allow our incomes
> to be treated separately for income tax purposes
> (both federal and state?)

While you will get some good answers on taxation
here, a pre-nup is a legal contract and, thus,
should be discuss with a California Tax attorney.

You are one more reason I should finish writing
my book "Living in Sin for Fun and Profit".

Dick

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by sharx35 on March 18, 2008, 5:11 pm
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>
>> I am going to be getting married later this year.
>> We both live and work in California. My spouse
>> makes considerably less money than I do. I
>> understand that the IRS will insist that 50% of
>> our joint income be claimed on each of our
>> returns if we choose to file separately. While
>> I'm not sure that we will be filing separately,
>> I'd like to maintain all our possible options.
>> Does a pre-nuptual agreement allow our incomes
>> to be treated separately for income tax purposes
>> (both federal and state?)
>
> While you will get some good answers on taxation
> here, a pre-nup is a legal contract and, thus,
> should be discuss with a California Tax attorney.
>
> You are one more reason I should finish writing
> my book "Living in Sin for Fun and Profit".
>
> Dick

Here in Canada, whether you like it or not, after TWELVE months of
consecutive shacking up, YOU_ARE_MARRIED, for income tax purposes, whether
you want to be or not. It is NOT optional. Many government-paid benefits are
tied to FAMILY (adults) total net income. Declaring single to try and get
these benefits is fraud and I, as a tax preparer, refuse to a party to such
schemes.



>
> --
> << ------------------------------------------------------- >>
> << The foregoing was not intended or written to be used, >>
> << nor can it used, for the purpose of avoiding penalties >>
> << that may be imposed upon the taxpayer. >>
> << >>
> << The Charter and the Guidelines for submitting posts >>
> << to this newsgroup as well as our anti-spamming policy >>
> << are at www.asktax.org. >>
> << Copyright (2007) - All rights reserved. >>
> << ------------------------------------------------------- >>

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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