The New (Divorce) Tax Law…and Race to the Finish Line

In December of last year, the president signed into effect a new tax law. Among other things, this law will affect the tax impact of the payments of spousal support (also called maintenance or alimony).  Effective January 2019, spousal support will no longer be deductible by the person paying it and will be taxable to the person receiving it.  The practical problem with that is, in the past, the deductibility of maintenance was used as a negotiating tool to which helped parties arrive at settlements for the payment of spousal support. The deductibility of maintenance was of value to the spouse that was paying, due to the fact that it would generally cost the payor [...]

By |2021-03-16T18:39:34-04:00March 29, 2018|Matrimonial Divorce Law|

What If My Spouse Has Unreported Income?

It’s not uncommon to find that somebody who is living a $300,000-a-year lifestyle is reporting $40,000 on their income tax returns. It is a common scenario where one party in a divorce operates their own business in which certain expenses are run through the business, and/or fails to report all income on tax returns. Business owners will sometimes pay things like their car payments and cell phone bills through their business, but some people are even more brazen and charge any number of personal expenses directly through the auspices of the company they own. This can occur in any type of business or even a professional practice. In businesses where customers or clients commonly pay [...]

By |2021-03-16T18:39:34-04:00August 12, 2017|Family Court, Matrimonial Divorce Law|

Social Media and Your Divorce

If you are going through a divorce, it is wise to be very particular about how and when you use social media. Depending on the platform you use, you may be inadvertently revealing information that could hurt your case in court. Here are some basic tips: Don’t post anything that is blatantly inappropriate or that can create an unwanted impression of your finances. Even if you mean it to be a joke, it can make you appear less fit as a parent if you are involved in a custody hearing. Also, if you are posting about your leisure activities, it can make you appear as if you have a substantial amount of extra money available [...]

By |2021-03-16T18:39:34-04:00January 26, 2017|Matrimonial Divorce Law|
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