Alimony

Come Jan. 1, the Tax Cuts and Jobs Act will go into effect. Once it does, an alimony-paying spouse will no longer be able to take a tax deduction for making such a payment on their yearly tax filing.Up until this act was passed last year, paying spouses had been...

Time is ticking down before the Tax Cuts and Jobs Act (TCJA) goes into full effect on Jan. 1, 2019. Once it does, it will change how both alimony and child support are dealt with.Child support One of the most noticeable changes under the new law has to do with the...

The idea of one spouse paying another a certain amount of money to support them so that they could continue to live the same lifestyle post-divorce that they did while married is a concept that originated in England. Although the idea of alimony or spousal support was...

A new tax code, that's known as the Tax Cuts and Jobs Act, is slated to go into effect on Dec. 31, 2018, that will greatly impact divorcing spouses' finances.Beginning the following day on January 1, 2019, the long standing option for alimony payers to deduct their...

Alimony once was a wife and stay-at-home mother reaching an agreement with her ex-husband regarding both spousal and child support. He agrees to pay a set amount every month and pays for a few months, but then suddenly stops. If this describes the predicament you find...

Contrary to what many paying spouses may think, alimony is not intended to penalize the paying spouse for deciding to move forward in divorcing their husband or wife. It's instead intended to help equalize the playing field between one spouse and another, especially...

During the past 75 years, each state has been responsible for setting their own rules for how decisions regarding alimony awards would be made. This has made it difficult for legal experts to give a single answer about how its tabulated.What hasn't changed during this...

In some jurisdictions, child support awards are determined using a formula whereby one parent's income, the amount of children he or she has and other factors may affect how much the other one is ordered to pay. While modifications can be made in some cases outside of...

Just before their holiday break, Congress passed and President Trump signed the much-talked-about and highly-debated tax reform bill. Among the changes in the sweeping bill is that alimony will no longer be a factor when divorced people file their income taxes,...

In order for a spouse to get the amount of alimony he or she has to pay his or her ex reduced, it often requires him or her to show that he or she experienced a decrease in the amount of pay brought in on a regular basis. In contrast, for a recipient spouse, he or she...