Originally Published by The TaxLetter Vol. 26, No. 10, October  2008   www.adviceforinvestors.com

Families ... the tie that binds   Eileen Reppenhagen, CGA

Every so often a mom going through separation angst calls me for support with tax and cash planning.  My most complex tax returns are often those for single moms.  They have every conceivable expense and tax credit.  They may not have filed returns for a number of years and not have collected on their child tax benefits as a result.  Often it takes years to recover from the emotional scars of a failed relationship.   How do we reconcile with family who support us financially but torment us physically, mentally or emotionally? What is the opportunity cost of separation? We all know someone who has paid the price. I thought you might find it interesting to assess the consequences ... Signup for The TaxLetter and read Eileen's full article every month

Supporting Excel spreadsheet for this article:  Divorce Cash Flow.xls (30 kb)

Eileen Reppenhagen, CGA, ACG, Certified QuickBooks ProAdvisor, and Honorary Member of the Institute of Professional Bookkeepers of Canada, writes and speaks about accounting and tax.  She is a regular contributor to Canadian MoneySaver, The TaxLetter and Intuit Canada’s Advisor Advantage.   All articles are copyright protected.  Most articles are not available for re-print unless you obtain permission from third parties.  Please respect copyright. For more information or permission to re-print please contact  eileen@taxdetective.ca you obtain permisison to re-print an article, include this tagline: If "Eileen Reppenhagen, CGA is a Certified QuickBooks ProAdvisor and speaks and writes about accounting and tax.  Contact her at www.taxdetective.ca".