Deep in the 429 pages of the House Republican tax bill is a provision with financial consequences for couples getting divorced.
People looking to get divorced and people writing alimony checks would have to pay tax on those payments. Under current tax law, alimony payments are tax-deductible to the party paying and taxable to the party receiving them. Under the new proposal that would end.
Here is the rationale for making these changes: The proposal would…Continue
Added by Robert D. Bordett, CFP, CDFA on December 6, 2017 at 6:30pm — No Comments