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Child Support

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Child Support

New Tax Law and Alimony

“Currently, alimony is taxable for the recipient but not the payer. The spouse paying the alimony can deduct it from income before the adjusted gross income is figured. (This is known as an "above the line" deduction.) The recipient then pays taxes on the alimony received. Going forward, however, this would be reversed: Alimony will be paid with aftertax dollars, and the recipient will not have to pay taxes on it.” The full article can be found here: http://news.morningstar.com/articlenet/article.aspx?id=844758
January 25, 2018 Child Support, Family Law 0Comments

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Update on Child Support Proposal

“A controversial proposal from officials in Gov. Scott Walker’s administration to reduce the amount of money wealthy parents pay in child support remains stalled nearly a year after the rule change was proposed.”   The full article can be found here: http://host.madison.com/wsj/news/local/govt-and-politics/catching-up-no-movement-on-new-child-support-rules-for/article_879684e3-7791-5edb-8984-17190dca3813.html
December 13, 2017 Child Support 0Comments

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GOP Tax Plan Eliminates Tax Deduction on Alimony (Spousal Support)

“On Wednesday, November 1, 2017, the House finally released their proposal for tax reform and one item on the list is to eliminate the deductibility of spousal maintenance/alimony for payors. This could have a significant impact on marital settlement agreements going forward and even require re-negotiation for divorces completed in 2017 based on the assumption that the maintenance already ordered would be tax deductible to payor.”  For the full article, please click here:  https://divorcefinancialtraining.com/gop-tax-plan-eliminates-tax-deduction-on-alimony/
November 15, 2017 Child Support 0Comments

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Child Support and Public Benefits

“Walker’s reforms would re-establish the requirement that, as a condition of receiving FoodShare, custodial parents must cooperate with child support enforcement to establish paternity and a child support order for the absent parent, with common-sense exemptions for cases of domestic violence or child abuse.”  The full article can be found here:  http://patch.com/wisconsin/shorewood/foodshare-benefits-will-be-linked-child-support-paternity-compliance-under
February 22, 2017 Child Support, Family Law 0Comments

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