Can a working woman get alimony?
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Can a working woman get alimony?
In most cases, the wife gets 20-35 per cent of a husband’s net taxable income as alimony. If the woman is working, she can still get maintenance if the court feels her demands are reasonable, if she has dependants or if her income is not sufficient to support the lifestyle she enjoyed while married.
What are examples of deductible alimony?
Cash only: Only payments of cash (or cash equivalent) qualify as deductible alimony. The cash can either be paid directly to the spouse or can be paid on the spouse’s behalf under the terms of the instrument to cover an expense such as rent or the mortgage.
Do I have to claim alimony as income?
Spousal support is usually taxable and deductible And they must pay income tax on the payments. The spouse who pays the support (the “payor”) can claim it as a deduction. (It’s like deducting contributions to Registered Retirement Savings Plans or child care expenses).
What is the process of alimony?
Generally speaking alimony means an allowance or amount which a court orders the husband to pay to the wife for her sustenance. When a couple gets divorced by mutual consent, the decision on whether any alimony/maintenance is to be paid by either party is a matter of agreement between them.
