Divorce and Taxes: What You Don’t Know Will Cost You

Divorce changes more than your relationship status—it can also change how you file taxes, claim credits, divide retirement accounts, and manage income-producing assets.In this re-released episode from Season 1 of I Now Pronounce You Divorced, our host, Charles Hatley, Esq., sits down with Jenny Bittmann, Tax Principal at BDO, about the tax implications that can shape a divorce settlement and affect both spouses long after the agreement is finalized.Jenny explains how the IRS determines marital status, the filing options available during separation, and why parents need clear agreements about child tax credits and deductions. She also discusses the potential tax consequences of dividing retirement accounts and business assets—and why proactive planning can prevent costly surprises when tax season arrives.Whether you are considering divorce, currently negotiating a settlement, or helping clients navigate the financial side of separation, this episode offers practical insights for making more informed decisions.