- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Per Understanding and Calculating Alimony in Michigan:
It’s no surprise that paying spousal support can sometimes be a hard pill to swallow. In divorces finalized before December 31, 2018, tax law allowed the paying spouse to deduct alimony payments for purposes of the annual tax return. Tax deductions are essential when it comes to the bottom line, so the alimony deduction was beneficial for financial purposes. Also, before December 31, 2018, the IRS required individuals receiving alimony to report the payments as income, which to some supported spouses, was frustrating.
March 13, 2020
7:02 AM