Divorce & Marriage Issues

What does community property mean?


"Community property" laws mean that in a legal marriage each spouse legally owns half of the income and property of each other, even if legal title is held by only one spouse. Your tax return preparation is affected by whether you live in a "community property" state. We recommend you contact a CPA in your area for additional information as to how these rules affect you directly.
Answer Provided by: CPAdirectory

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