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4. Other mortgage options after divorce. There are a few other mortgage options that may be worth considering amid a divorce. For instance, it is possible to keep the mortgage as-is, but this ...
After paying off liabilities like a mortgage and a home equity loan or line of credit (if there is one), the remaining equity is typically split between the couple according to their divorce ...
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Using the formulas for 2016 income, if both persons have a taxable income X greater than $415,050 then as singles each would pay 0.396X−$43830.05, whereas if they were married filing jointly they would pay 2(0.396X)−$54333.70, so they lose 2($43830.05)−$54333.70 or $33,326.40.
Unmarried couples with joint mortgages could pool their allowances to £60,000, a provision known as Multiple Mortgage Tax Relief. This remained in place until the 1988 Budget, when Nigel Lawson ended the option to pool allowances from August 1988. Lawson later publicly expressed regret at not having implemented the change with effect from the ...
Unmarried buyers can secure a mortgage through either a single or joint application. The latter gives more buying power to couples with two incomes — but only if they have comparable credit ...
Income splitting is a tax strategy of transferring earned and passive income of one spouse to the other spouse for the purposes of assessing personal income tax (i.e. "splitting" away the income of the greater earner, reducing his/her income for tax measurement purposes), thus reducing the tax paid by the spouse who earns more and increasing the tax paid by the spouse who earns less, with the ...
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