Posted by Flynn Financial Group Inc

New Divorce Tax Rules - Are They A Disadvantage?

New Divorce Tax Rules - Are They A Disadvantage?

Relationships do not wait for any reason to get over. They are quite unpredictable specially in the western world, divorce is nothing which is unheard of. There are many laws which state about the divorce rules. Recently there has been an announcement of new divorce tax rules which are about to be implemented soon. 

In this article, we will be reading about new divorce tax rules and finding out if they are an advantage or a disadvantage for people. With the news of new divorce tax rules about to be implemented, many couples are now in a rush to get their payments finalized before the new tax rule is implied. 

Following the rule of the new divorce tax, any time after the 31st of December any kind of alimony payments will not deduct tax and the payer has to bear the taxes related to it. However, the changes which will be brought about by the new divorce tax rule might be a great disadvantage for women as there will be too less money available which can be a huge problem for women who might have to bear additional responsibility as well as more problems.

The war can definitely continue

The implementation of the new divorce tax rule can force many couples to come to an agreement before the 31st of December. It might even result in their problems getting eventually solved.

After the year ends, it will be a huge difference for those couples who are or get divorced. Before the 31st December you must have an agreement in order to get support which is permanent for your tax to be deductible as well as included. 

Financial advisors and professionals believe that whatever the solution is after the implementation of the new divorce tax law it will be the person getting the alimony will be at loss as well as at a disadvantage. This definitely means that it will be women who are already vulnerable on earning finance, will not have much money to work and earn for their living after they have had their separation. 

High stakes

A research conducted revealed that it will be women who will be at a greater loss as well as disadvantage after the implementation of the new divorce tax rule. The income of the women decreases more than one fifth while for men who are fathers see that their earnings rise by a third. 

It was also reported after the research that in the end eventually the disadvantages for the women following the new divorce tax rule will be higher and worse. 

Small payments

A research conducted also revealed that the post implications following the new divorce tax rule also mean that there will be too less money which will be around which will result in small payments of alimony. 

The entire divorce procedure should be quite simple and easy for both the men as well as the women. The main motive of the divorce should be that the living standard should be equal for both the men as well as the women. The primary goal is to provide both the husband as well as the wife equal living standards. 

Instead of quarreling and fighting the couples, courts, lawyers, as well as the mediators should know how to adjust the proper amount of money between both without being unfair or unjust with any one of the individual. 

The best that the couples can do

Separation and divorce is a very normal and usual procedure through which many couples go. There is a solution to every matter and same is the case with this. The most appropriate solution that the couples can go for would be to take the advice of a financial expert or an attorney for this matter. A financial expert must have dealt with numerous cases similar to yours which is why the solution he will give will be the best for you. 

Although they will charge their own fee for the service that they will provide but in the end it will all end smoothly without any complications. The results will be fair and just for both the men and the women. It is better to take the help of an advisor. 

Flynn Financial Group Inc
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