Is alimony forever in Florida?

Is alimony forever in Florida?

Permanent Alimony (2020): Florida Divorce/Family Law. Alimony, which is also frequently referred to as maintenance or spousal support, is payment from one ex-spouse to the other. Instead, Florida law looks at one spouse’s ability to pay alimony vs. the other spouse’s need for Florida permanent alimony.

Why is alimony no longer deductible?

31, 2018, the new law eliminates the deduction for alimony payments. Recipients of affected alimony payments will no longer have to include them in taxable income. For individuals who must pay alimony, this change can be expensive–because the tax savings from being able to deduct alimony payments can be substantial.

Is alimony considered earned income in 2019?

The Tax Cuts and Jobs Act enacted new tax rules regarding spousal support payments, also known as alimony. In divorces finalized after Janu, the person paying spousal support can no longer deduct the amount from their taxes. For recipients, spousal support payments are no longer considered taxable income.