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alimony

When can I deduct my alimony payments?

Alimony payments are deductible only if they meet the requirements outlined below. It is important to have your divorce decree or separation agreement reviewed for tax purposes before it becomes effective to make sure these requirements are met. Even if the decree or agreement specifies that the payments are alimony they won't be treated as alimony for tax purposes unless these requirements are satisfied. Please call me to arrange for such a review before signing off on the arrangement. Here are the alimony requirements: No voluntary payments: For an alimony payment to be deductible, it must be required by a [...]

2016-10-27T16:54:56-07:00February 28th, 2015|Personal Tax|Comments Off on When can I deduct my alimony payments?
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