Tag Archives: IRS

Tax Returns: Know What You Are and Are Not Signing

In marriages where one spouse handles most of the finances, the other spouse may have only a surface-level understanding (or no understanding at all) of where the money is going, how the taxes are getting paid and how the couple’s financial life is arranged. This makes the financially naive spouse vulnerable if the one who… Read More »

How to Make Sure Alimony Payments Are Tax Deductible

Not all alimony payments automatically qualify as being tax deductible. There are seven different requirements that the IRS has for taxpayers who want to deduct payments they make for alimony. They are as follows: Payments should be in cash or check. You cannot give assets that equal the value of your payment if you want… Read More »