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Despite receiving alimony, she must work three part time jobs. She was a stay at home mom for most of her 21-year-marriage, so she collects a modest social security check.
Alimony and child support are terms used in discussions surrounding divorce and separation, but they refer to very different financial responsibilities.
Under current law, the payer would have a tax bill of $13,015, based on income of $68,000 net of alimony. The recipient would pay $4,183 in tax on the alimony. Combined tax: $17,198.
The law was enacted after Barbara Bentley was ordered to pay her husband alimony after he was convicted of attempted murder. Bentley lobbied for the law to be changed in 1995 and was successful.
That is not the part that I found interesting. Here is the interesting part. At trial petitioner asserted that the $50,000 of alimony she reported on her 2007 tax return should be nontaxable.
Who gets alimony and for how long comes with a whole new formula, designed to make it fair for everyone. But some ex-spouses say the new rules have created a hardship that is unfair and unjust.
The Supreme Court ruled that previous alimony can't impact disputes in a new marriage, resolving a case involving a couple's divorce and property settlement.
The matrimonial bar is grappling with the effect of a tax bill passed by Congress and signed by President Trump at the end of 2017, which removes the option for divorcing spouses to pay alimony ...
Yes, there are. For instance, in certain circumstances, divorcing women should consider the benefits of an Alimony and Maintenance Trust (also known as a Section 682 Trust).
Alimony dates back centuries. The original idea was that once married, a man is responsible for a woman till death. But that notion has shifted in recent decades, as more women have jobs and their ...
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