The rules for filing alimony income on your tax return changed with the 2019 fiscal year. Alimony income or payments are no longer tax-deductible, and the receipt of alimony is not...
Posted by KLSM CPA Firm PLLC on 07/09/2022
After a divorce or separation, the spouse's primary earner or provider gets to pay the other partner alimony, spousal maintenance, or spousal support. Such payment aims to enable...
Alimony, also known as spousal maintenance or support, is the payment that one partner makes to the other after divorce. The idea is to help low-earning individuals take care of expenses...
What is alimony payment? This is a payment between current spouses or ex-spouses due to an ongoing separation in a marriage or divorce. Alimony (sometimes called support) payments...
Posted by Dennis Jao on 03/05/2021
Alimony, also known as spousal support, is the money paid to a spouse to another after a divorce. The idea is to help the spouse with the lower income to take care of expenses and...
It is safe to call form 1040, the mother of all tax forms, as it is the standard tax form that people will need to report their income to Uncle Sam. In addition, it also comes handy...
Getting paid for goods and service means one will pay income taxes on the value received. This is valid for every form of earning, alongside any interest coming from the investment....
Going through the process of divorce or separation can be a very difficult time. Consider these tax tips for avoiding mistakes with the IRS.The process of divorce or separation is...
For an “injured” spouse to regain the share of a joint return, they must file Form 8379. This is the case when a past-due obligation of the other spouse was applied by...
Posted by LLOYD J CAZES CPA on 12/28/2019