Best Tax Strategies In Divorce Discussed by Seattle Divorce Lawyers at Tsai Law Company

SEATTLE, WA, August 06, 2012 (Press-News.org) Washington state high asset divorce lawyers Philip C. Tsai and Todd R. DeVallance of Tsai Law Company, will discuss tax consequences of divorce at the NBI family law conference on September 19, 2012. The National Business Institute (NBI) has been one of the largest providers of legal and professional education in the nation, serving over two million professionals since 1983.

Family Law tax topics that will be discussed at the NBI conference include how to help your client understand common tax issues, tax implications of the division of assets and marital property, transfers from retirement accounts, spousal maintenance, allocations of itemized deductions, gifts and loans, tax on short sales, and deductible costs of divorce.

When it comes to deductible costs of divorce in Washington state, a spouse cannot deduct the court costs and legal fees for getting a divorce. However, there are two possible deductions clients may be entitled to receive in connection with a divorce: (1) fees for tax advice; and (2) fees to obtain or collect alimony. A spouse must itemize their deductions to obtain these deductions and both are subject to the 2% limit.

PHILIP C. TSAI is co-founder of Tsai Law Company, PLLC, exclusively practicing family law and divorce litigation. Mr. Tsai is a speaker at continuing legal education seminars through the Washington State Bar Association and was featured with Judge Michael Price at the Family Law Mid Year in 2011, discussing ethical issues and social media. He also has been a speaker through the King County Bar Association discussing spousal maintenance, separate property claims and other divorce related topics. Mr. Tsai is a member of the Washington State, Snohomish, Pierce and King County (member, Family Law Section) bar associations. He earned his B.A. degree, cum laude, from the University of Washington and his J.D. degree, cum laude, from Seattle University School of Law.

TODD R. DeVALLANCE is an attorney with Tsai Law Company, PLLC, who focuses his practice primarily on family law, which has included defense of family related criminal cases. He has experience in all aspects of family law, including cases involving child protective services; domestic violence protection orders; interstate custody disputes; divorces involving business owners, partners and shareholders; medications; trials; and appeals. Mr. DeVallance's practice also includes estate planning; drafting of wills and trusts; and preparing prenuptial and postnuptial agreements. He is a member of the Washington State and King County (member, Family Law Section) bar association. Mr. DeVallance earned his B.A. degree, magna cum laude, from Chaminade University, his J.D. degree from Gonzaga University School of Law, and his LL.M. in taxation from the University of Washington School of Law.

Visit Seattle family law attorney profiles for Tsai Law Company online or call for a free phone consultation at (206) 728-8000.

Website: http://www.tlclawco.com