Not all transfers of marital property in a divorce are tax-free
Article Abstract:
Section 1041 contains the provisions governing the tax treatment of property settlements incident to a marital separation or divorce. According to Section 1041(a), the transfer of property from a taxpayerto a spouse or former spouse following their divorce will not result in the recognition of any gain or loss. Section 10419(b) provides that the property will be considered to be acquired by gift by the transferee spouse for income tax purposes. Generally the transferor and the transferee will not incur any taxes from the transfer, but there are certain cases wherein either spouse can incur tax liabilities. For instance, the transferor will recognize a gain if the property transfer is made in trust. The tax-exempt status of the property transfer will also not apply if the transferee spouse is a nonresident alien.
Publication Name: Taxation for Accountants
Subject: Business
ISSN: 0040-0165
Year: 1993
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A disciplined approach to spreadsheet development
Article Abstract:
Many organizations develop electronic spreadsheets in-house for their employees' use. Such organizations can improve their internally generated spreadsheets by adopting a disciplined approach to spreadsheet development based on an application of systems analysis and computer programming. The disciplined approach entails an analysis of the problem structure, for which modules are developed to address sub-problems. The control structure is analyzed next, which focuses on maintaining the independence of the template's parts while joining hem together as a working spreadsheet. After the modules have been defined and connected, the display structure is is developed in which the template is mapped onto the spreadsheet software.
Publication Name: Business
Subject: Business
ISSN: 0163-531X
Year: 1990
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Software program aids in calculating effects of a divorce
Article Abstract:
FinPlan's (Chicago, IL) Divorce Planner is a spreadsheet template program that evaluates the tax effects of a divorce and calculates cash and tax flow results. Divorce Planner is a stand-alone program that was originally a Lotus 1-2-3 template that still uses Lotus commands. The program is menu-driven and controlled by pull-down menus and requires a hard disk. The spreadsheet is large and offers 12 different reports, including: tax planner output, cash flow output, and present value of alimony. Divorce planner is a powerful divorce tax planning tool and includes many useful features, including: a capacity to view alternative treatments side by side, and a model of home sales.
Publication Name: Taxation for Accountants
Subject: Business
ISSN: 0040-0165
Year: 1990
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