News & Analysis as of

Alimony

Appellate Division Issues New Decision On Cohabitation

by Fox Rothschild LLP on

In the midst of our ongoing quest for guidance as to how and when to apply the 2014 cohabitation statute, comes the Appellate Division’s recent unpublished (not precedential) decision in J.S. v. J.M. While the decision does...more

Common misconceptions of NJ family law

In a world of “fake news,” access to reliable information about the divorce process is more difficult to come by than one may realize. While many litigants are quick to consult the internet, family members and friends for...more

How the New Tax Law Changes Alimony and Child Support

by Poyner Spruill LLP on

Deep within the text of the Tax Cuts and Jobs Act of 2017 (TCJA) are two provisions that will have a significant effect on both alimony and child support....more

Changes in Alimony for Payer Spouse and Recipient Spouse under Tax Reform

by Foodman CPAs & Advisors on

Since the early 1940’s, alimony payments have been tax deductible for the Payer Spouse. The recipient of the alimony (Recipient Spouse) paid the income tax on the alimony payments. The Tax Cuts and Jobs Act (TCJA) puts an...more

Decoding the Tax Cuts and Jobs Act – Part VII: Family Matters and Major Events in the Lives of Individuals

by Garvey Schubert Barer on

The Tax Cuts and Jobs Act (“TCJA”) creates the need for tax planning with respect to several major life-changing activities individuals may encounter, including marriage, divorce, home ownership, casualty losses, medical...more

Smile For The Camera, And Other Family Law Nightmares

by Fox Rothschild LLP on

You never know when or where the next video camera or recording device is going to show up. And when you’re in the middle of a contested divorce, particularly if there are custody issues, caution is key. I was reminded of...more

AAML Opposition to Repeal of the Alimony Tax Deduction

We blogged recently about the 2017 Tax Cuts and Jobs Act which, in part, eliminates the tax consequences of alimony. To briefly recap, alimony is tax-deductible to the payor and taxable as income to the recipient under the...more

Divorce is Taxing: The Effect of Recent Tax Laws on Divorcing Parties

by Bowditch & Dewey on

Not only is divorce emotionally draining, the tax ramifications of recently passed tax laws will have a direct and adverse effect on divorcing parties. Tax reform will substantially alter the award of alimony in...more

Appellate Division Denies Cohabitation Claim Under Alimony Statute

by Fox Rothschild LLP on

While we await guidance from the Appellate Division on how to interpret that portion of the amended alimony statute’s cohabitation provision, N.J.S.A. 2A:32-23n, indicating that alimony may be “suspended or terminated” in the...more

Appellate Division Confirms That Alimony Cannot Be Judicially Determined With A Formula

by Fox Rothschild LLP on

One of the most common question posed by clients is – how is alimony determined? Unfortunately, there is no easy answer to that question, and it is often dependent upon the facts and circumstances of a given matter. ...more

The Tax Cuts and Jobs Act: An Overview and Four 2018 Planning Suggestions

by Faegre Baker Daniels on

For the first time in more than 30 years, the countdown to the New Year was also the countdown to major revisions to the tax code. The Tax Cuts and Jobs Act (Act) became law in late December 2017 and contains sweeping changes...more

How Four Different Areas of Life Are Affected by the New Tax Law

by Moskowitz LLP on

The Tax Cuts and Jobs Act, signed into law by President Trump on December 22, 2017, represents the biggest and most dramatic change to the U.S. tax code to take place in decades, and is expected to impact most everyone. Let’s...more

Changes in the Tax Cuts and Jobs Act of 2017 that Impact Individual Taxpayers for Non-Business Items

by Stinson Leonard Street on

The Tax Cuts and Jobs Act of 2017 makes substantial changes to the income taxes of individuals. The Act's individual changes noted in the attached chart generally expire on January 1, 2026, and the speculation will...more

Making Sense of Recent Law Changes

by Burns & Levinson LLP on

Happy New Year, all! May 2018 bring you health, happiness, and prosperity. The federal Tax Cuts and Jobs Act, in conjunction with Massachusetts’ Alimony Reform Act, will bring the Commonwealth’s divorce practitioners and...more

Summary of Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

The New Year’s Resolution Divorce

by Fox Rothschild LLP on

For many divorce attorneys, the busy season starts after the first of the year. For the last several years, I have posted on the phenomenon of the New Year’s Resolution Divorce. For whatever reason, this post has struck a...more

Private Client & Trust Tax Reform Advisory

by Goulston & Storrs PC on

On December 22, 2017, the President signed into law H.R. 1, informally known as the “Tax Cuts and Jobs Act” (the “Act”), implementing sweeping changes to United States income tax regimes for individuals and businesses and...more

The Revised U.S. Tax Code’s Impact On Alimony

By now most people are aware of the impending changes to the U.S. tax code brought about by the GOP tax bill, dubbed the “Tax Cuts and Jobs Act,” which Congress voted to pass on December 20, 2017. These substantial changes,...more

Divorce Planning: How Tax Reform Could Affect Your Decisions

by Lewitt Hackman on

Under the current tax law, individuals making spousal support payments may deduct the payments on their tax returns. Conversely, the individual receiving alimony must count those payments in his or her gross income....more

Will 2018 Be The Year Of The Divorce – Will The New Tax Laws Cause A Race To Get Divorced By 12/31/18?

by Fox Rothschild LLP on

Since the first go round of the proposed massive revisions to the tax code were announced several weeks ago, matrimonial lawyers, litigants, accountants, etc. have been in a veritable tizzy over the prospect that one of the...more

Spousal Support Deduction: Breaking Up Is Hard[er] To Do After Tax Reform

by Fraser Trebilcock on

The final version of the tax reform bill was released Friday, December 15, 2017 and is set for votes this week – and it will pass and become law. Among the many changes, the final bill eliminates the tax deduction for spousal...more

Alimony About To Experience An Untimely Death

by Fox Rothschild LLP on

As this is written, the House and Senate this week are scheduled to vote upon a conference report of both houses of Congress which will “reform” tax law in a major way for the first time since the Reagan administration. In...more

Alimony Ambiguity Reaches Stage “Critical”

by Fox Rothschild LLP on

We have still not seen a copy of the Senate bill although PBS Newshour reports that the final version adopted by the Senate was not circulated in the Senate until late Friday evening and about 5 hours before the vote. ...more

Settling Your Case Comes With Great Power And Great Responsibility

by Fox Rothschild LLP on

Amicably settling your divorce matter is almost always better than taking your chances at a trial before a trial judge who knows almost nothing about your life. Not only can settling save you substantial time and expense as...more

How Much Alimony Does a Spouse Need?

by Burns & Levinson LLP on

The alimony statute in Massachusetts provides that the amount of general alimony shall generally not exceed the recipient’s need or 30 to 35 percent of the difference between the parties’ gross incomes. It has long been the...more

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