Higher Tax Bracket

If you thought that’s where the headache ends as far as taxes go, think again. Even if you don’t have children you should remember that taxes usually benefit married people. Now that you’re going to be single, expect a tax hit!

Last year, single filers that made under $40,000 were moved into the 22% tax bracket while married couples that filed jointly and made under $77,400 were put in the 12% bracket. For high earners, this works in reverse- you’ll pay more if you’re married and less if you’re single.

Child Support

If you have children and you’re getting a divorce, chances are that child support will come into play, especially if you’re a noncustodial parent. According to a 2010 Census, the average child support payments came up to $430. The number of children, location, income, child-care expenses, and health care expenses all play a role in how much parents will have to pay.

And remember, the payee can’t consider this taxable income just as the payer cannot deduct child support either.