New answers tagged

1

There does not appear to be any tax benefit of this arrangement. I wonder if you want your wife to have income so that she can contribute to an individual retirement account? That wouldn't work either. For contributing to retirement accounts, the only income that matters is earned income (i.e., wages). Investment gains are not earned income and cannot be ...


5

As you said, you are in a community property state, and pretty much everything either of you have really belongs to both of you. But even if that wasn't the case, people that are married and are both citizens can give unlimited amounts to each other at any time with no tax consequences. Also, because you are filing jointly, it really doesn't matter who the ...


6

Things are tough in a divorce and it is a large cause of poverty. It is likely impossible to sort things out here, and one thing might be that your dad is stretching the truth. Perhaps he paid half the bills some months, but not all. It could also be that he did pay half all months, and your mom is a poor money manager. Budgeting and living within one's ...


Top 50 recent answers are included