End of Alimony Tax Deduction Hastening Some Divorce Negotiations, Attorneys Say
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nbcboston.com
End of Alimony Tax Deduction Hastening Some Divorce Negotiations, Attorneys Say
Divorce can be simple or it can be messy. For some, it’s become a little more urgent. The $1.5-trillion tax overhaul includes the end of a 75-year-old deduction on alimony payments, to kick in at the close of this year. Recipients will also no longer have to claim such payments as income. The impact of the change depends entirely on how ...
Jul 25, 2018
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The tax treatment of alimony, also known as spousal support, changed in 2019. You can’t deduct alimony you pay under a divorce or separation instrument signed on or after January 1, 2019. You can deduct alimony paid under a divorce or separation instrument signed before 2019, unless you and your spouse have subsequently agreed to make it non-deductible. Give us a call today at 908-810-1083. #shorthills #shorthillsnj #newjersey #nj #TaxReturns #EstateTaxes #IRS #taxseason #incometax #personalfina
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The tax treatment of alimony, also known as spousal support, changed in 2019. You can’t deduct alimony you pay under a divorce or separation instrument signed on or after January 1, 2019. You can deduct alimony paid under a divorce or separation instrument signed before 2019, unless you and your spouse have subsequently agreed to make it non-deductible. Give us a call today at 908-810-1083. #shorthills #shorthillsnj #newjersey #nj #TaxReturns #EstateTaxes #IRS #taxseason #incometax #personalfina
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Alimony, child support, pension, interest, dividends, royalties, rents etc are all PASSIVE income and won’t count against your Social Security earned income limit which in 2024 will be $22,230 gross wages Free Resources linktr.ee/medicaremama , Call 800-970-1964, or visit themedicarefamily.com | The Medicare Family
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The tax treatment of alimony, also known as spousal support, changed in 2019. You can’t deduct alimony you pay under a divorce or separation instrument signed on or after January 1, 2019. You can deduct alimony paid under a divorce or separation instrument signed before 2019, unless you and your spouse have subsequently agreed to make it non-deductible. Give us a call today at 908-810-1083. #shorthills #shorthillsnj #newjersey #nj #TaxReturns #EstateTaxes #IRS #taxseason #incometax #personalfina
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