361. How Tax Changes After Divorce: Filing Status, Child Credits, and Hidden Costs

Staring at your tax forms with dread after divorce?

 

In this episode of The Divorce Revolution Podcast, I break down the tax implications of divorce that no one warns you about. I explain how your filing status changes immediately after your divorce is finalized, who gets to claim the kids on taxes, and the different tax treatments for alimony and child support. I also share some hidden costs of divorce you might not be thinking about, including potential tax penalties on splitting assets like retirement accounts and capital gains taxes on selling your marital home. 

 

As someone who’s been through this myself, I understand how overwhelming financial stability can feel post-divorce, which is why I’m giving you practical advice on how to stay ahead of the game—from hiring your own CPA (especially if your ex handled the taxes before) to adjusting your withholdings to avoid surprises next year.

 

Resources Mentioned:

• TurboTax

• Qualified Domestic Relations Order (QDRO) for retirement account transfers

• Sign up for ReNewU waitlist to get early access: https://products.ambershaw.com/signature-waitlist

• Nail Your Niche: https://ambershaw.samcart.com/products/nail-your-niche

 

What I Discuss:

• How your filing status changes after divorce (single vs. head of household)

• Tax implications for claiming children as dependents

• Alimony and child support tax considerations

• Hidden tax costs: retirement accounts, home sales, and capital gains

• Why your tax refund might shrink (or disappear) after divorce

• Practical steps to prepare for your first post-divorce tax season

 

Key Takeaways:

“If your ex was handling all of the taxes before, please get a CPA and have them review everything.”

“Remember divorce isn’t the end. It’s your fucking launch pad, girl.”

 

Find more from Amber:

Instagram: @msambershaw

Website: ambershaw.com 

Youtube: https://www.youtube.com/@msambershaw