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Divorce and Family Law Attorney

50 Northcrest Drive, Council Bluffs, Iowa 51503

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News & Resources

Yearly Archives: 2021

Shannon Simpson has been accepted to Council Bluffs Executive Women’s Partnership

By Aug 17, 2021 Posted in News

Shannon Simpson has been accepted to the Council Bluffs Executive Women’s Partnership       The mission of the Executive Women’s Partnership, is bringing accomplished leaders together in an inclusive environment to grow and accelerate the role women play in Council Bluffs executive leadership, through mentorship, education and innovative programming.   Fostering diversity and inclusion among women leaders. Providing executive training and professional development that advances and adds value to female executives. Building confidence in female […]

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Shannon Simpson Represented Region on Jumpstart Family Law Task Force

By Jun 28, 2021 Posted in Articles

                By Scott Stewart of The Daily Record   A Council Bluffs attorney is a member of a task force created to accelerate the safe return of family law trails to the state of Iowa. Shannon Simpson, owner of Simpson Legal Group LLC and a practicing family law attorney in Council Bluffs for the past two decades, was appointed to the Jumpstart Family Law Task Force by the […]

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Child Tax Credits

By May 5, 2021 Posted in Articles

Understanding Dependency Exemptions and the Child Tax Credit        Under the changes to the Tax Cuts and Jobs Act (TCJA) that took place in 2018, the child tax credit was expanded, but the dependency exemption was completely eliminated. This resulted in parents not being entitled to claim the exemption from 2018 to 2025. For years, parents had been entitled to this exemption for children which they provide support. The exemption reduced individual taxable […]

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How Does Getting a Divorce Affect Filing My Taxes?

By Apr 28, 2021 Posted in Articles

       Tax implications may not seem like the most important issue for someone going through a divorce but they can have serious financial consequences.  Certain provisions within a divorce agreement could make a substantial difference in the amount of your tax refund or liability.  Below are a few tax “rules” to keep in mind:   Timing of Divorce.  The IRS considers someone married for federal income tax purposes if the person is legally […]

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Newsletter Archives

By Mar 29, 2021 Posted in Newsletter

March 2021 Newsletter – Business and Your Divorce – April 2021 Newsletter – Taxes and Your Divorce –  

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Alimony & Tax Consequences

By Feb 17, 2021 Posted in Articles

            Pursuant to the Tax Cut & Jobs Act of 2017, beginning in January of 2019, any Decree of Dissolution of Marriage entered after January 1, 2019, where alimony is awarded to a party, the party receiving the alimony was no longer required to claim the alimony as income and the person paying the alimony was no longer eligible to deduct the alimony from his/her income.             The Biden Administration could change this legislation to […]

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Which Parent Gets the Child’s Stimulus Check?

By Feb 10, 2021 Posted in Articles

     Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, most Americans are eligible for another round of stimulus checks (also called Economic Impact Payment). Individuals who reported adjusted gross income of $75,000 or less on their 2019 tax returns will receive $600 each and $600 per child. The same goes for couples filing jointly with $150,000 or less of adjusted gross income or $112,500 or less for head of household. The Biden […]

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Student Loan Debt May Have Financial Implications On Your Divorce

By Feb 2, 2021 Posted in Articles

           The cost of education has skyrocketed over the past twenty-five years in the United States.  Whether attending college, university, and/or graduate school, most individuals obtain federal or private student loans to finance a portion or all of their secondary education.  Should a party incur student loan debt prior to entering into a marriage, said debt will most likely be considered a pre-marital liability in a divorce action.  Therefore, the student […]

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Which Party Receives the Employment-Sponsored Pension or Retirement Plan in a Divorce?

By Jan 4, 2021 Posted in Articles

          As previously discussed in our recent blogs last month on property division in the context of a divorce, property of the spouses is classified as either marital property or separate property.  Marital property is subject to equitable division between the spouses whereas separate property is excluded from the marital estate.  Typically, the spouses’ property consists of real estate, household furnishings, vehicles, and bank accounts, i.e., checking, savings, and retirement accounts. […]

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50 Northcrest Drive, Council Bluffs, Iowa 51503
Phone: 712.256.9899

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