When you are divorced or separated, the change generates some tax consequences that are important to take into account when preparing to file your annual federal income tax return. Filing Status Married taxpayers who file a joint return have a preferential federal income tax rate. The year you are divorced or separated, you filing status ...
Utah Divorce Laws aren’t very complicated. The divorce process can be over quickly or it can take up to 90 days or more depending upon certain situations. Just remember that you and your spouse can’t have the same attorney due to conflicts. When you go to get a divorce in Utah then you and your ...
California spousal support (also commonly called “alimony” and sometimes “palimony”) is generally a temporary means to ensure that a spouse without financial means will have enough money to pay living expenses after a divorce. It is in addition to but may be affected by the property or assets awarded to the spouse. California spousal support ...
Introduction Child support in Florida is based on guidelines. The guidelines are worked out using the combined net income of both parents, with each parent paying a percentage based on the combined total net income of both parents. Income and Expenses Many people think if they underestimate their income, the paying spouse’s support will be ...
Divorce is never an easy process, but with divorce rates per marriage approaching 50%, it is certainly no longer uncommon, and as such, there are procedures and laws that those involved should understand before attempting a legal separation. Which lawyers in Maine will resolve my dispute most equitably? How much am I going to lose ...
Like me, I am sure you have heard crazy escapades in legal battles between spouses who air their dirty laundry in divorce court. The American appetite for such madness is so prodigious that we’ve made celebrities out of judges who listen to the lives of husbands and wives who want to leave their marriages behind ...
Florida has long recognized a divorced party’s right to receive alimony following a divorce. Typically, the award is made to the former wife, but, in some circumstances, the former husband may be the recipient. Section 61.08, Florida Statures, provides that the alimony may be “rehabilitative or permanent in nature”; the former primarily an award for ...
Generally, alimony payments can be deducted for federal income tax purposes by the spouse who pays the alimony. And the spouse who receives alimony payments must report them as taxable income. This also applies to lump sum payments and can result in significant tax consequences for the spouses. For example, a lump sum payment may ...