The overhauls to the tax system that went into effect last year have made matters a bit more complicated for divorcing spouses. Under the new system, alimony payments are no longer tax deductible for the person paying them, and are no longer considered taxable income for the person receiving them, which reverses a practice that… Read More »
A recent article in The New York Times indicates that under the new Republican tax law, there may be an incentive for wealthy Americans pondering divorce to rush to get it done before 2018 is over. The primary reason for this is that the new Tax Cuts and Jobs Act will eliminate the previously existing… Read More »
Figuring out alimony has never been a simple task for divorce attorneys. Alimony arrangements often become the subject of dispute during the divorce negotiation process. The new tax regulations signed into law by President Donald Trump in December could make determining alimony arrangements even more difficult. For the past several decades, the rules with regard… Read More »