How does the Tax and Jobs Act of 2017 affect divorce?
On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the Act) was signed into law by President Trump. The Act represents one of the most significant overhauls to American tax law in more than 30 years; it significantly changes how individuals, businesses, tax-exempt organizations, and others are taxed. The Act affects every individual taxpayer, from wage earners to business owners, and all business entities. Although the Act provides benefits for some, it is widely believed that a number of changes will make divorce more difficult and expensive.
Chris Griffiths, Suzanne Griffiths and Boris Sobolev elaborate on this topic, expanding upon the impact the tax code changes have on divorce.
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Chris Griffiths is a shareholder at Griffiths Law PC and focuses his practice on complex civil litigation and family law matters. His civil litigation practice focuses on construction, insurance, real estate, commercial, and business disputes. His family law practice focuses on divorce and related domestic relations matters. Chris has assisted in the recovery of millions of dollars on behalf of his and his firm’s clients in Colorado and Texas.
Suzanne Griffiths is the Managing Shareholder, CFO, and co-founder of Gutterman Griffiths PC. She was voted a Lawyer of the Year by CO Law Week in 2016. She was voted Top Lawyer in Family Law in Denver in 5280 Magazine, 2016-2018. In addition to authoring numerous professional articles, Ms. Griffiths appeared on the “Dr. Phil Show” numerous times during the series “The Anatomy of Divorce.