Here it is April 5th and my first tax season working as an admin within a CPA/Consulting firm.
In the past 7 weeks I have learned more about taxes and financial planning than I ever knew before.
I had a working knowledge of what to count for expenses as an active consultant for a couple of direct sales companies. I knew what a 401(k) was and used to have one before 2008 hit me in the stomach and I cashed mine out after losing my job.
I know some of you are going through a rough time, or filing for divorce or just a few months on the other side of filing for divorce.
Be sure and MAKE the time to check the address of record for your financial holdings (401K, 457, 529 Plans, IRA's and any retirement/pension).
Also, call them and find out who your beneficiaries are. You don't want to find out 5 years after the divorce that your ex is still listed as your beneficiary. Change your will to reflect your current status of life.
Also, don't be afraid to setup a separate checking account that is all your own. The soon to be ex spouse does not need to know about it. Trust me on this. Been through this twice! If they have access, they will try to take your money. Keep your bank or credit union advised of the situation and take them off the account as soon as you can. It is worth the time off work to save yourself future headaches.
Lastly, check your insurances and make sure they are where you want them to be.
I say all of this from experience and what I have seen at the bank and the CPA office. I am only trying to save you some grief and advising you because I have been through it and been taken advantage of.
Be Kind to each other and circle the wagons. Take care of each other. Let the Ex go and stay Off his/her social media, cut those cords my friends!
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