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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…

Taxes, Taxes, Taxes…

It’s that time of year again – the April 15 deadline for filing income taxes is less than a month away. A number of us will be doing the annual scramble to consolidate the information needed to complete the forms/input the data and generate the return(s). And, of course, while last year’s return is a…