Tag: Spousal Support
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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…
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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…