Since many spouses depend on one another for financial support, North Carolina courts take that into consideration during divorce. The court may order one spouse to pay alimony to the other for a set time or permanently. While no set rules exist for alimony in most...
Tax law changes affect alimony after 2019
Spouses in North Carolina considering divorce may wish to learn about the impact of the Tax Cuts and Jobs Act on their future plans for spousal support and alimony. In the past, the recipient paid taxes on the alimony while the payer could deduct the sum. This...
How the new tax bill affects alimony
The Republican tax bill, which was signed into law in December 2017, will affect alimony payments for people in North Carolina and throughout the country who get divorced in 2019 or later. Under the old tax laws, the person who pays alimony does not pay tax on the...
Changes in law could affect alimony amounts
North Carolina residents that are considering divorce and might need to negotiate alimony might be affected by a proposed change in the law that could affect payment amounts. The changes relate to the provision that allows those who pay alimony to claim the amount as...
Support issues after a divorce
North Carolina couples who are ending their marriage often have to make difficult decisions about asset division and ongoing maintenance payments. These issues can become even more challenging if they have children.It is not unusual in a divorce for one spouse to make...
David Hasselhoff wants to stop paying spousal support
North Carolina residents who are paying or receiving spousal support might be interested in actor David Hasselhoff's alimony case. The actor, who has been paying support to his ex-wife, has filed a petition in the court to stop paying it altogether. According to media...
Rules for tax-deductible alimony payments
When North Carolina couples get a divorce, one person may be obligated to pay alimony. Usually, the recipient must pay taxes on the alimony while the payer can deduct it from taxes. However, there are several provisions that must be in place before this deduction will...
Alimony and taxes: Can I deduct my alimony payments?
If you're paying a significant amount of alimony to your ex-spouse each month, you're probably wondering what tax benefits you might be able to receive. After all, the income that you're sending to your spouse is not income that you're directly benefiting from....
Working out alimony: A woman’s guide
Alimony has the potential to make you feel great about your finances or make you wish you had fought harder for more after your divorce. How is alimony arranged? What can you do to get as much alimony as you need? Here are a few things to think about. 1. Calculate...
Will alimony be part of your divorce? Maybe
As you are preparing for divorce, you may be wondering if you will have to pay your future ex-wife alimony in addition to child support. Unfortunately, divorce is rarely a clean break. Very often, couples will always have some sort of relationship after divorce,...