Alimony Deductions End Soon – Time to Settle!

If you are in the process of getting divorced and struggling to make much headway on the issue of alimony, now might be a good time to get serious about settling your case. Beginning next year, alimony will not be tax-deductible, which will result in a much higher tax hit for the payer (who usually has much higher income than the recipient) and less available wealth overall. But if you can get your case settled and a judgment issued before the end of 2018, alimony should be treated under the prior tax law, which treats alimony as 100% tax-deductible to the payer.

See this article on MSN.com, which highlights how lawyers, judges, and divorcing spouses are handling the serious consequences of President Trump’s signature tax law as 2018 draws rapidly to a close.