Tag: tax deduction
-
The New Tax Plan Puts Divorcing Couples in the Penalty Box
The new tax plan may make your divorce a little more expensive. The biggest reason is that under the new plan, spousal maintenance (commonly referred to as alimony) is no longer going to be a tax deduction to the person paying it and taxable income to the person receiving it. What is Spousal Maintenance? Spousal…
-
How Much Spousal Maintenance (Alimony) Can I Expect to Pay In a Seattle Divorce?
Watch my video on Spousal Maintenance (alimony) here. In Washington State divorce cases, and therefore in a Seattle divorce, there is no magic formula to determine spousal maintenance or alimony. There are a number of factors the court considers and a wide variety of possible outcomes. Spousal Maintenance is determined based upon two things: The need…