817-285-2855

Is alimony in Texas tax deductible?

Posted by Diane Wanger | Mar 19, 2014 | 0Comments

Only for divorces finalized before December 31, 2018, the Internal Revenue Code provides that post-divorce alimony payments are tax deductible by the paying spouse and taxable to the recipient spouse as "ordinary income." For this reason, it is not uncommon for a negotiated settlement to include the payment of a high amount of spousal support, because such a payment results in tax benefit to the payor.  There are some limits to the application, so be sure to check with your tax professional. For Smart Divorce in Texas

Diane

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Comments have been disabled.

Sample

Aenean lacinia bibendum nulla sed consectetur. Donec sed odio dui. Maecenas sed diam eget risus varius blandit sit amet non magna. Nulla vitae elit libero, a pharetra augue. Curabitur blandit tempus porttitor. Morbi leo risus, porta ac consectetur ac, vestibulum at eros. Cras justo odio, dapibus ac facilisis in, egestas.

Sample

Aenean lacinia bibendum nulla sed consectetur. Donec sed odio dui. Maecenas sed diam eget risus varius blandit sit amet non magna. Nulla vitae elit libero, a pharetra augue. Curabitur blandit tempus porttitor. Morbi leo risus, porta ac consectetur ac, vestibulum at eros. Cras justo odio, dapibus ac facilisis in, egestas.