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January 2019 Archives

Does The New Tax Law Make Divorce Harder?

For 70 years, spousal support, also known as alimony, was taxed a certain way. For the payee, it was taxable income. For the payor, it was deductible. As of January 1st, 2019, all of that has changed thanks to the Tax Cuts and Jobs Act. Spousal support payments are no longer deductible for the payor, nor are they taxable income for the payee. 

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