If you’re preparing to divorce after many years of marriage, one of your key concerns may be whether you’re going to experience a drastic change in your lifestyle – for the worse. This isn’t an uncommon worry, particularly when one spouse has built a successful...
Alimony
Understanding alimony tax deductions in New Jersey
Alimony payments can affect your taxes. In New Jersey, making these payments tax-deductible requires specific procedures. It may be helpful to follow some steps to ensure your alimony payments meet the criteria for tax deductions. Ensure your alimony qualifies To make...
Taxation and alimony payments
The tax considerations that come with a divorce that can be considerable. It's a big issue when people are splitting assets like retirement accounts. Depending on how those funds are received, they may be subject to tax. In New Jersey, there are also some special...