Separating from your Massachusetts spouse is never easy, whether it’s you who has taken the call or your spouse. Since you are here reading this article, perhaps, you have summoned up the courage to divorce after much thought and discussion. Whether you have been...
Month: February 2022
The Tax Benefits of Your Massachusetts 401(k) Plan
Congress created the 401(k) plan in 1986 to encourage employees of for-profit businesses to save for retirement. Two versions exist: The tax-deferred 401(k) And the Roth 401(k) introduced in 2006 Both retirement savings plans offer tax benefits and can help you build...
IRS Tax Tip: How Small Business Owners Can Deduct Their Home Office From Their Taxes
The home office deduction allows qualified taxpayers to deduct certain home expenses when they file taxes. To claim the home office deduction on their 2021 tax return, taxpayers generally must exclusively and regularly use part of their home or a separate structure on...
Massachusetts Kids Who Witness Fighting Between Divorced Parents More Likely to Develop Mental Health Problems
Massachusetts children are more likely to suffer mental health problems if they witness their divorced or separated parents arguing, warns a recent study. Conflict between recently separated parents can cause children to experience fear of abandonment, leading to such...
How to Deal With a Pathological Liar in a Massachusetts Marriage
If you have had the ill luck of being in a Massachusetts marriage with one, knowing how to deal with a pathological liar in a relationship is the first step toward taking control of your relationship and getting your life back on track. This article will show you...
What is Spousal Privilege and Disqualification in Massachusetts?
(a) Spousal privilege (1) General rule A spouse shall not be compelled to testify in the trial of an indictment, complaint, or other criminal proceeding brought against the other spouse. (2) Who may claim the privilege Only the witness-spouse may claim the privilege....
2022 VA Disability Rates For Massachusetts Veterans
The following tables show the monthly 2022 VA disability rates for veterans with a rating 10% or higher. These amounts are effective Dec. 1, 2021. They are tax-free. VA disability payments are made to veterans who got sick or injured while serving in the military and...
Don’t Try to Keep Up the Lifestyle You Had After Massachusetts Divorce
With a quarter of Americans without retirement savings, it’s important for people to save money after a life-changing event like a Massachusetts divorce, according to one expert. “Reduce your expenses, and don’t try to keep up the lifestyle you had before,” Linda...
If You Are a Spouse or a Child of a Disabled Veteran You May Be Eligible for Education Assistance
If you’re the child or spouse of a Veteran or service member who has died, is captured or missing, or has disabilities, you may be able to get help paying for school or job training through the Dependent Education Assistance Program (DEA program) —also called Chapter...
Reasons Massachusetts Residents Who Don’t Normally File a Tax Return Should
With tax filing season is just around the corner, this is a good time for those who don’t normally file to consider the benefits of filing a 2021 tax return. Filing can help them claim a refundable tax credit or get an income tax refund. Here are some things taxpayers...