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New Tax Bill Drastically Changes Treatment Of Alimony

For the last seventy-five years, a spouse paying alimony (also known as “maintenance” or “spousal support” in New York and many other jurisdictions) has been able to deduct the alimony award from his or her tax return each year. Likewise, the spouse receiving the maintenance has the obligation to include the total amount of alimony…

Social Security Retirement Planning If You Are Divorced

If you are divorced, you are entitled to receive benefits on your ex-spouse’s record (even if he or she has remarried) if: 1. Your ex-spouse is entitled to Social Security benefits. If your ex-spouse worked for ten years or more, then he or she is eligible to receive retirement benefits as early as age 62.…