Gray divorces and tax changes complicate retirementBeth Pinsker October 15, 2018 NEW YORK (Reuters) – When people over the age of 50 get divorced, retirement accounts become a key asset, even more so sometimes than the house or alimony. Lawyers and feuding couples are bracing for big changes at the end of 2018 for how…
These are the unexpected restrictions you can face while getting divorcedBy Nicole Lyn Pesce June 12, 2018 You probably can’t travel with the kids or take your ex off of your insurance during divorce proceedings. Breaking up is even harder to do than you think. When Sima, who declined to give her last name, split…
The sick reason many miserable married people are pondering divorce in 2018By Catey Hill January 26, 2018 The new tax plan will change how alimony is taxed — and divorce attorneys say they’re seeing more clients considering divorces in 2018 because of it Divorce, like marriage, is taxing. The sweeping new tax law that President…
Exes and Taxes: How the Tax Overhaul Would Alter Alimony By Jennifer Peltz December 22, 2017 NEW YORK (AP) — Congress’ giant tax overhaul is poised to reach virtually every corner of American life — even Splitsville. Republicans delivered their sweeping plan Wednesday to an exultant President Donald Trump to sign. One provision scraps a…
Here’s how the tax plan could change divorce in a big wayBy Assiciated Press December 22, 2017 NEW YORK (AP) — Congress’ giant tax overhaul is poised to reach virtually every corner of American life — even Splitsville. Republicans delivered their sweeping plan Wednesday to an exultant President Donald Trump to sign. One provision scraps a…
Your Money: Get ready for a flood of difficult divorces in 2018By Beth Pinsker December 21, 2017 NEW YORK (Reuters) – Acrimonious couples who were racing to get divorced by Dec. 31 or face dire tax consequences can breathe a sigh of relief. The final tax overhaul bill gives them until the end of 2018…
Alimony payers lose tax deduction under GOP billBy Jackie Wattles December 15, 2017 The final version of the tax plan, which was released Friday and is set for votes next week, eliminates the tax deduction for alimony payments. Divorce lawyers say this move could make ending marriages an even more drawn-out and expensive process, and the…
Is tax reform the final straw for alimony?By Reuters NOVEMBER 10, 2017 The tax deduction for alimony is on the chopping block, eliminating the break for the spouse who pays alimony, and the tax hit for the one who receives it. Some 12 million tax returns claimed a deduction for paying alimony in 2015, according…
How Tax Reform Could Radically Change DivorceBy Malcom S. Taub, Next Avenue Contributor Nov. 9, 2017 A proposed dramatic change to the tax rules of divorce in the House Republicans’ tax reform bill (the Tax Cuts and Jobs Act) would undoubtedly create additional burdens to couples getting divorced if it becomes law. The bill would…
Under Trump’s tax plan, divorces are about to get a lot nastierBy Quentin Fottrell November 3, 2017 There’s no longer a silver lining to paying spousal support. President Trump’s tax plan unveiled this week will abolish tax deductions on alimony. This won’t impact people who have already agreed on their payment amounts but — assuming the…
Tax Proposal to Hit Divorcing CouplesNovember 3, 2017 President Trump’s tax plan unveiled this week will abolish tax deductions on alimony, and that could make future divorces nastier, writes MarketWatch. “This will create a total reevaluation of divorce cases,” said Malcolm Taub, partner and co-chair of the divorce and family law practice group at Davidoff Hutcher…
Trump tax plan paints pretty picture for art collectorsCATHERINE LUCEY October 16, 2017 WASHINGTON (AP) — For art aficionados, President Donald Trump’s tax plan paints a pretty picture. The president’s tax overhaul proposal — which he has pitched as a boost for hardworking farmers and truckers — would repeal the federal estate…