Should I buy a car before my divorce?
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Should I buy a car before my divorce?
But if you used money from a joint account that you and your spouse acquired during marriage or if you traded in a community property car, then the new vehicle might not be your separate property. It may be best to simply avoid buying any significant assets before your divorce is final.
What happens if I buy a house before I get divorced?
You can buy a house while getting divorced, but before you do, you should ask yourself whether it’s a good idea. There are risks and complications involved in purchasing a home before your divorce is finalized that completely disappear if you wait until after its complete to make the purchase.
What income reduces Social Security benefits?
If you are younger than full retirement age and earn more than the yearly earnings limit, we may reduce your benefit amount. If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2020, that limit is $18,240.
Does alimony count as earned income for Social Security benefits?
Answer: No, alimony payments don’t count under the earnings test. They do count for purposes of determining whether your income is high enough such that your Social Security benefits are subject to federal and, in some states, state income taxation.
