W3Schools

Under Trump’s tax law, you now have a year to avoid a nasty divorce

There soon won’t be a silver lining to paying spousal support.

President Trump’s recently passed tax code will abolish tax deductions on alimony for divorce decrees on Jan. 1, 2019 and thereafter. “This will create a total reevaluation of divorce cases,” said Malcolm Taub, partner and co-chair of the divorce and family law practice group at Davidoff Hutcher & Citron LLP. “It’s major.”

Divorce lawyers say the higher-earning spouse will have more leverage to argue for lower alimony. “We settled a case this week in court where my wealthy client agreed to pay his dependent wife significant alimony because he could deduct it,” said Randy Kessler, an Atlanta-based lawyer who wrote the book, “Divorce: Protect Yourself, Your Kids, and Your Future.

>>> Original Source <<<

Comentários