Alimony (spousal maintenance) is a payment of money to a former spouse that continues after divorce. Alimony is tax deductible to the payer and taxable as income to the recipient if the payments truly qualify as alimony under IRS rules. Creative divorce settlements that include alimony or spousal maintenance can keep money out of Uncle Sam’s pocket and in your family’s – unless the IRS does not see it your way.
Nothing but the T.R.U.C.E. Blog
Published Sat, 06/15/2013
Expect two big changes to Texas child support in 2013. Higher social security and Federal income taxes on January 1, 2013 will decrease parent's take home pay and decrease child support as calculated under the Texas guidelines for 2013. But on September 1, 2013 high wage earners will pay more child support when the cap on maximum monthly net resources on which child support is figured rises from $7,500 to $8,550 per month.
Published Tue, 05/14/2013
There is never a good time to divorce. But some times are better than others - like between now and January 10, 2014 when it gets harder to buy a house.
Published Thu, 04/11/2013
Are you in the middle of a divorce? Take this advice from a divorce lawyer: Beware of these gigantic divorce mistakes that can destroy your family and finances, and wreck you emotionally! If you are just getting started in divorce, also read part one to avoid costly mistakes form the beginning.
Published Mon, 03/25/2013
Many divorcing couples who believe they have worked out a deal between them want to use one lawyer to answer legal questions, draw up the paperwork, and finalize the divorce at the courthouse. Many are afraid that if each of them has a lawyer, the two lawyers will stir up unnecessary conflict or they will be too expensive. So can a couple have just one divorce lawyer for the two of them? No. Here is why not and what they can do about it.