Divorce is difficult enough. What could add to the anxiety that divorce brings? Taxes. From adjusting to different living arrangements and sharing child custody, to determining future income and just being single again, the transitions can be unsettling. Amid all this change, it's easy to lose sight of some of the subtler aspects of your finances - namely, your taxes.

Because federal tax law reaches deep into all aspects of our lives, it's no surprise that the rules that affect us change as our lives change. This can present opportunities to save or create costly pitfalls to avoid. Being alert to the rolling changes that come at various life stages is the key to holding down your tax bill to the legal minimum. If you are one of the many people who recently divorced or are currently in the process you may be coping with new tax issues, and may even be filing your own tax return for the first time.

Here are a few examples of life changes that may trigger tax changes after a divorce is final.

• Consider the tax implications of support. Child support is not deductible to the person who pays it, but alimony is. Likewise, the recipient of alimony must claim it on her tax return, but child support isn't reported as income. In most cases taxes (like your paychecks) are not taken out of spousal support payments, so be aware! You may want to contact your CPA and set up a quarterly payment schedule. Tip: Consider getting spousal support paid in a lump sum, as you can avoid counting that money as future income if the money is transferred as part of the property settlement.

• Don't run afoul of the special rules regarding support. If alimony payments are concentrated in the first year or two after divorce, the IRS may consider the money to be non-deductible property settlement. And if alimony is scheduled to end within six months of a child's 18th or 21st birthday, the IRS may consider the alimony, to be disguised child support.

• Child-related tax benefits are very valuable. If you have children, you should consider negotiating for various child-related tax benefits, such as the Standard Deduction, Dependency Exemption, Child Credit, and American Opportunity Credit. If you have primary custody of the children, you will have an easier time receiving child-related tax benefits. You can negotiate as part of your settlement to keep many child-related tax benefits even if you don't have primary custody. Depending upon your circumstances, this can be a valuable benefit that most people forget about. Tip: Get signed Form 8332 if required. If you are entitled to claim the tax exemption for children who spend less than six months of the year living with you, then you will need your ex-spouse to sign IRS Form 8332 (Release of Claim to Exemption for Child of Divorced or Separated Parents). A copy of this form must be filed with your income tax return for you to claim the tax exemptions for children not living with you.

• Couples who are splitting up but not yet divorced before the end of the year still have the option to file a joint return. It's your marital status as of December 31 that controls your filing status. If you can't file a joint return for the year, you can file as a head of household after your divorce (and get the benefit of a bigger standard deduction and gentler tax brackets) if you had a dependent living with you for more than half the year and you paid for more than half of the upkeep for your home. If your divorce is still pending at year-end, you can either file a joint return (which is likely to save you money) or choose the married-filing-separately status. Tip: If you are filing jointly discuss how the proceeds if any from a tax return should be split.

• When a divorce settlement shifts property from one spouse to another, the recipient doesn't pay tax on that transfer. That's the good news. But it's important to remember that the property's tax basis shifts as well. Thus if you get property from your ex in the divorce and later sell it, you may pay capital gains tax on the appreciation before as well as after the transfer. That's why, when you're splitting up property, you need to consider the tax basis as well as the value of the property. A $100,000 bank account is worth more to you than a $100,000 stock portfolio that has a basis of $50,000. There's no tax on the former, but when you sell the stock, you may owe tax on the $50,000 profit.

Divorce may not be as inevitable as taxes, but it certainly brings complications to tax filing.

The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Raymond James does not provide tax or legal services. Please contact your tax or legal advisor for your particular situation.