On behalf of admin of DeShon Laraye Pullen PLC posted in Alimony on November 16, 2017
As with any proposed federal legislation, the recently unveiled Tax Cuts and Jobs Act is complex and lengthy. Piercing that veil has already revealed that with every benefit to efforts to reform, there are drawbacks. Some taxpayers will see relief while others will carry a heavier financial burden.
Divorced couples currently negotiating alimony agreements could suffer negative effects if the current bill becomes law, regardless of who pays and who receives support.
Continue reading Will tax reform end deductions for alimony?Spousal maintenance: more women paying, more men collecting
On behalf of admin of DeShon Laraye Pullen PLC posted in Alimony on May 22, 2012
More and more women in Arizona and across the country are discovering that when the bloom is off the rose in their marriage, the result might be that they, as opposed to their husband, may end up obligated to pay child support and even alimony. Such is the nature of progress and changing times.
It’s not that the laws are being applied differently but rather that women have climbed up the ladder to the point where many out-earn their husbands. And that simple fact could translate into a court order to pay spousal maintenance if the parties choose to divorce.
Continue reading Spousal maintenance: more women paying, more men collectingFormer MLB player claims alimony on taxes, gets the hook from IRS
On behalf of admin of DeShon Laraye Pullen PLC posted in Alimony on April 24, 2012
Arizona folks who have been a part of a divorce that includes spousal maintenance know that in some instances the payments can result in an income tax deduction. The alimonypaid to an ex-spouse is one of the deductions that many look forward to each year, after 12 months of paying for spousal support. However, there are instances when a deduction is not permissible.
Arizona readers may be interested to hear about former MLB player Dave LaPoint, who was the subject of a U.S. Tax Court case recently after his attempts to deduct some of his alimony payments to his ex-wife were rejected by the IRS. The deductions were made in 2002 and 2004. The court ruled against LaPoint, holding that the deductions were not valid as made.
Continue reading Former MLB player claims alimony on taxes, gets the hook from IRS