Under the present tax law for the year 2018 both husbands and wives will have more disposable income if they finalize their divorce in 2018. Spouses who have put off getting a divorce should reconsider their relationship, sort out their confusion, get counseling if they have not done so, and consult with a divorce attorney. If the resultant divorce is what you anticipate the tax savings will be better for the family than after January 1, 2019. After January 1, 2019 alimony will no longer be tax deductible by the payor and taxable to the payee. This shifting of tax helps husband’s and wives’ who have divorced before or will be divorced prior to January 1, 2019. Without this shifting of tax less alimony will be payable because there will be no tax benefit to the payor. We offer a complimentary brief consultation to answer questions on Florida divorce and family law matters including alimony.
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