Checking the Box for Single 

First you have to tell the children, then the family, then the friends. Now you have to tell the IRS about your divorce, too? It can be downright depressing to have to check that box that says "single" again. Even worse to check the "Married filing separately" box. It's like having to call and tell the IRS agent that your marriage is on its way to extinction. It's bad enough that they know how much we make, where we invest our money, where our children go to daycare, now that get to know about our marital troubles, too!

For those of you that checked one of those boxes for the first time since your marriage ended, take heart. The IRS agents are too busy trying to get people not to hate them to worry about your personal life. Just rent Stranger than Fiction and you will know what I am talking about!

Seriously, it is a hard reminder that things have changed. But it is also a reminder that you have control over your financial future. For so many couples, money was a major cause of stress. Not having enough of it, not agreeing on how to spend it, worrying about it. As a newly reminted single, you have all the control over your finances. That can be scary, but it is also a good thing. So many people I know have done far better than they ever expected after they split up.

Just make sure that when it comes to tax time, you are clear on who gets to claim the children. My ex and I switch off every other year, but if there is a year when I didn't do so well and he can get a better savings from taking the deduction, I let him. In that case, he usually pays me what I would have received and splits the remainder with me. Any shared investments or property? Just always make sure that you are clear up front on the tax implications and who is responsible for what. Get it in writing. Money is a difficult topic in the best of relationships. It can be an impossible one in the stress of a relationship that is ending.