Why is alimony no longer deductible?
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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 still deductible in 2019?
Beginning Jan. 1, 2019, alimony or separate maintenance payments are not deductible from the income of the payer spouse, or includable in the income of the receiving spouse, if made under a divorce or separation agreement executed after Dec. 31, 2018.
Why divorce hurts so much?
Another reason it hurts so much is that most people who are going through divorce are having to deal with so many losses all at the same time. You’re hurting for a broken relationship, of course. And often at the same time, you’re hurting because of that feeling of being betrayed by your spouse.
How do you break up a long term marriage?
How to Leave a Long-Term RelationshipBe clear about your message. Sometimes your leaving is not a surprise: It’s been talked about for months. Control contact. Have a plan for your worst-case scenarios. Talk to the children. Work up lines. Consider counseling. Expect your feelings to change. Get support.
