The Internal Revenue Code provides that post divorce alimony payments are tax deductible by the paying spouse and taxable to the recipient spouse as "ordinary income." For this reason, it is not uncommon for a negotiated settlement to include the payment of a high amount of spousal support, because such a payment results in tax benefit to the payor. There are some limits to the application, so be sure to check with your tax professional.
For Smart Divorce in Texas
Diane
texasfamilylaw.info
Showing posts with label spousal support. Show all posts
Showing posts with label spousal support. Show all posts
Monday, July 26, 2010
Friday, July 9, 2010
Texas Long Term Alimony/Support
THIS POST IS NO LONGER REFLECTS THE LAW AS OF SEPT 2011 SEE POSTS AFTER JULY 2011
Where the marriage has lasted more than 10 years, or under some family violence situations and support is needed to meet the "minimum reasonable needs" of the spouse, the court may order alimony/support for up to three years. If a spouse is disabled or responsible for a adult disabled child, the support may continue beyond 3 years. Usually what you will see is a three year order with a review at the end.
For Smart Divorce in Texas
Diane
Where the marriage has lasted more than 10 years, or under some family violence situations and support is needed to meet the "minimum reasonable needs" of the spouse, the court may order alimony/support for up to three years. If a spouse is disabled or responsible for a adult disabled child, the support may continue beyond 3 years. Usually what you will see is a three year order with a review at the end.
For Smart Divorce in Texas
Diane
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