The dissolution of a marriage has several major tax considerations. There are questions about who can take the deduction on the sale of the marital home. Is child support or spousal support deductible?
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Question: I have been paying alimony for years and it is set to end at the end of the month. How can I be certain that the automated alimony debt will cease to continue? Do I need to have my order changed, or will the system automatically do this for …
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Question: I am currently paying temporary alimony to my estranged wife. Will this support stop once I go to court for the divorce hearing? If not, how long will I be required to pay alimony?
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Question: My wife and I recently divorced and we listed irreconcilable differences as the grounds for our split. The judge awarded my wife child support, alimony and $500 monthly from my retirement account. The total amount I’m paying is much more than I can afford. I was also told that …
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Question: My wife and I recently separated after I confessed to an affair and she is demanding I move to another city. We have a 14-month-old daughter and I am not interested in moving away from her, but I also do not want to rock the boat further and prompt …
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Question: I pay non-modifiable alimony and owe a substantial amount in arrears. My ex-wife is remarrying and I understand that my payments will end because of that, but will her remarriage have any affect on how much is taken out of my check for the arrears?
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Question: My ex-wife’s alimony payments are due to terminate at the end of the year. She is now seeking to increase the amount of child support she receives due to the change in income that the alimony termination presents. Since alimony paid/received is considered income, will this change in income …
CONTINUE READINGQuestion: I am currently paying the state calculated suggested child support amount for one child voluntarily, not by court order. My spouse has also asked me for post-separation spousal support and I came up with what I thought was a fair amount, but she disagrees. What are my best courses …
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Rick Harkins and his wife, Michelle Cortes-Harkins, founded Harkins Wealth Management in 2008. Rick and Michelle began offering financial planning, but they soon began receiving an influx of referrals from divorce attorneys. Eventually, they have split into two different practices: One that covers the wealth management side of things, and …
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When confronted with most of life’s major financial decisions, most people go to great lengths to ensure they make rational, objective choices. “Most successful people are planners,” said Cordell & Cordell Principal Partner Joe Cordell. “They get there by way of thinking a lot about the important decisions in their life, …
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