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Words of incaution

She said he’s living in Nevada to try and dodge taxes. He accused her of stealing his dog. However, the accusations have stopped flying now that the divorce of Pamela Anderson and poker player Rick Saloman has been finalized. Media reports say Anderson received $1 million in a settlement and that afterwards, the former couple issued a carefully worded statement apologizing for, and retracting the harsh words and accusations exchanged during their acrimonious split.

Forbes noted that tax accusations aren’t uncommon in contentious break-ups, and that finger-pointing in high-asset divorces can sometimes be a “reason the IRS may be able to sniff out wrongdoing from divorcing couples.”

The magazine also noted that in divorce, there are tax repercussions to consider as both sides contemplate which assets to pursue and which debts to take on. Taxes aren’t levied at the time of divorce when the property is divided, but of course that doesn’t mean that divided real estate, for instance, won’t later be taxed at significantly different amounts.

Forbes also pointed out that when unmarried couples divide property, it can be taxed exactly as if the transaction had been a sale. That can make taxes after a long-term cohabitation ends particularly painful.

The magazine made another noteworthy observation as well, stating that it’s a good idea to reach agreement in divorce negotiations rather than broadcast differences over houses, accounts, holdings, spousal support and child support. Those kinds of public brawls can trigger an IRS audit that no one wants to deal with, especially as they simultaneously try to cope with divorce. An experienced Las Vegas family law attorney can help you negotiate favorable terms and avoid self-inflicted wounds.

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