www.charlesjeromeware.com " Here to make a Difference. "
Premier divorce and family law attorney Charles Jerome Ware is conveniently located in Columbia, Howard County, Maryland. For an initial courtesy consultation, contact him and his colleagues at (410) 720-6129 or (410) 730-5016.
The following are some divorce tax basics for consideration:
(1) Regarding alimony, generally the paying spouse deducts alimony payments from their taxes, but there are exceptions.
(2) Individuals going through a divorce must consider that child support or alimony they are paying or receiving is taxable or tax deductible.
(3) If you sell the marital (family) home during or after a divorce, you probably will not have to pay capital gains tax (with some exceptions).
(4) Spousal support payments do not automatically qualify as tax deductions. There are specific IRS guidelines that govern deductibility.
(5) Unfortunately, legal fees for divorce do not qualify as "write-offs" by IRS.
No comments:
Post a Comment