Under the current system, a person paying alimony deducts his or her alimony payment thereby receiving a, sometimes substantial, tax break. The alimony recipient then has to report his or her receipt of alimony as income on their tax returns and therefore pay taxes on that amount at his or her, typically, lower tax bracket.
Tax reform adds complexity to spousal support
Provisions to include and exclude with your premarital agreement
The number of issues that can be involved in a divorce are myriad, and the divorcing spouses will bring their own varying personalities and traits to the table during the process. This means every divorce is unique, and though some matters are common among many divorces, it is unlikely that any one divorce will play out in the same way as another divorce.
Awarded alimony? Prepare to track the payments
There are many different issues involved in divorce. And although every case is unique, the number of issues that must be discussed will be myriad in every one. How will property division be handled? Are children involved? What are the custody, parenting time and support parameters? Did the spouses sign a prenuptial agreement before they walked down the aisle?
