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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 03-21-2006, 08:01 PM
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Default Questions to ask an accountant?

OK ... since I'm paying good $$$ for an accountant, might as well get some good information from him. I ask cause there seems to be many opinions on what can and cannot be claimed is one seperates.

So, what are some good questions to pose to him?

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Old 03-21-2006, 10:37 PM
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For separation purposes,

Child support is not tax deductable. Spousal Support is when it is periodic payment rather than lump sum and only is when it is part of a separation agreement or court order.

Child care deductions and summer camp deductions would be proportionite deduction to your share.

A good question to ask would be RESP - Registered Education savings Plans for children in shared custody regimes. This I am not too clear on.
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Old 03-22-2006, 09:56 PM
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When can legal fees be deductable?

When can you claim the equivalent to spouse deduction?

I assume this is a personal accoutant? Not a business? Because with a business a whole new world opens up. Otherwise, there is not a lot you can do personal-wise. BTW, if you claim e-t-s or legal fees or anything like that, as a guy, you WILL get audited - it is one of the red flags in the "system".

BTW, I know the answers to these questions... but you might as well get a second opinion. Oh and talking to the help-line at CRA is like Russian Roulette, half the people there don't even know their own laws.

My understanding with RESP's is that who ever contributes first will get the federal top up. The RESP laws have not entered the 21st centruy and divorce.
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