Tax issues for divorced parents

Really excellent article in the current Smart Money magazine on Tax-Related Tax Breaks After Divorce. Well worth the read:

http://www.smartmoney.com/taxes/income/after-divorce-who-gets-child-related-tax-breaks/?zone=intromessage

Daddy, why can’t you just get money out of one of those machines?

When my first child, who’s now 22, was less than a year old, I took her to an FAO Schwartz store in New York, thinking that she’d have a ball with all the toys and stuffies. But no matter what I pulled off the shelf, she was always far more interested in playing with the price tags than with the toy itself. Ten or 12 years later, I found it endlessly entertaining that she still had her obsession with price tags, saving up her clothing allowance to buy herself jeans  at $150/pair (I get mine at Costco for $12/pair and have never seen the point of paying much more than that). And in all the years in between, I can’t even count the number of times when she, presented with a “No, bunny, I don’t want to buy that right now,” would come back with, “Daddy, can’t you just get money from one of those machines?”
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