New Tax Rules for Divorce and Alimony Payments

With the divorce rate hovering just below 50 percent, divorce is a painful reality for many people both emotionally and financially. The last thing on anyone’s mind is the effect a divorce or separation will have on their tax situation. Furthermore, most court decisions do not take into account the effects divorce or separation has on your tax situation, which is why it’s always a good idea to speak to an accounting professional before anything is finalized.

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