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Alimony Archives

Can you use your alimony income on a credit card application?

You and your spouse have always used a joint credit card, and you did not have one at all before you got married. Now you have decided to get divorced, and so you're canceling that joint account. Perhaps you already canceled it as soon as you filed to prevent any confusion.

How Florida judges decide between temporary and permanent alimony

In Florida, there are two types of alimony, durational and permanent, each of which is intended to help a spouse cover their bills as they adjust to their new set of financial circumstances. While many judges generally lean toward awarding spouses durational alimony, there are situations in which they still award permanent spousal support awards.

Student loan payments count as alimony, says one tax judge

Once the Tax Cuts and Jobs Act (TCJA) fully goes into effect on Jan. 1, 2019, any spouse paying alimony will no longer be able to deduct it on their taxes as they have in the past. Recipient spouses will also no longer have to claim the monies that they receive as income. A recent case brought in front of the tax court on Sept. 5 perhaps set a new precedent for what's considered as alimony.

A new Florida alimony law is approaching quickly

Time is running out for couples looking to finalize their divorces before new alimony law goes into effect on January 1, 2019. Once it does, the paying spouse will no longer be able to use the amount that they pay as a deduction on their taxes. The recipient ex-husband or wife will no longer have to pay taxes on payments received anymore either.

Doing away with alimony tax deductions to affect the wealthy

If you've thought about walking away from your marriage, then the year to do so may be 2018. If you're someone who has a sizable investment portfolio, an executive's salary or other valuable assets, then you'll want to consider how the change in spousal support laws at the end of the year may affect you.

Finding out if you are eligible to receive alimony

Alimony is a huge topic of discussion and controversy in the state of Florida. Many residents cry out for alimony reform while others are not even aware that alimony may be a possibility. Anyone who is getting a divorce in our state should learn at least a little about alimony before the process becomes final. This way, spouses on either side of divorce are prepared to manage alimony negotiations.

What are some benefits of a lump sum alimony settlement?

One of the most common issues that arise in a Florida divorce is alimony. Like other matters involving money, alimony may result in conflict between the two spouses. While the court will have its own opinion on how to settle the matter, it can be easier on the two parties to learn about their options before heading to court.

What you should know about rehabilitative alimony

When a spouse first hears about rehabilitative alimony, it often strikes fear into his or her heart because it sounds so temporary. This is especially so if the spouse has not worked outside of the home for many years and doesn't yet have an income in place. While it is admirable to give up a career in order to support a spouse's business efforts, it can be detrimental should divorce enter the picture.

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