What is spousal support called?
Spousal Support is money paid by one spouse to the other after they separate or divorce. It is sometimes called alimony or maintenance. Many factors may affect whether a married or common-law spouse is entitled to spousal support and how much support they should receive.
Why would a husband have to pay alimony?
Alimony, derived from the Latin word alimonia, means sustenance. It means an allowance or amount the court orders one spouse — in India, it is generally the husband — to pay to the other spouse for sustenance, while and after undergoing a divorce.
Is spousal support the same thing as alimony?
“Spousal support” is the money that one spouse may have to pay to the other spouse for their financial support following a separation or divorce. It is sometimes called “alimony” or “maintenance.” Spousal support is usually paid on a monthly basis, but it can be paid as a lump sum.
Can you write off spousal support?
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.