Forget it!
Forget about the alimony deduction for all new decrees or instruments post-2019. (See Part I for modification of pre-2019 alimony orders and agreement, as modification has a separate set of rules.) The deduction is gone absent a congressional miracle. That means on December 31, 2018, or before you must have alimony that qualifies under IRC Section 71 before it is repealed. The alimony must meet the terms of Section 71, pre-TCJA and pre-2019, which are as follows: Continue reading →
Previously, we examined the paragraph and subparagraphs defining “divorce or separation instruments.” Now let’s take a look at which sections of TCJA incorporate these subparagraphs.
The repeal of the alimony tax sections for the inclusion of income and deduction has an ancillary impact on other divorce tax issues. The effective date for all ancillary issues discussed in this article is December 31, 2018, the same as the alimony repeal. These December 31, 2018, changes shall be referred to herein as “post-2018” changes. Continue reading →
Tip #16 – Take yourself on a date and learn to love your own company.
Continue reading →
Tip #11 – Take time to enjoy the little things.
The United States, as a whole, has only allowed same-sex marriage for just over two and a half years. It is law that same-sex couples have the right to marry in the United States of America, but there are some who still struggle with the question of what exactly that entails. Certainly, same-sex couples can be married now, but are they afforded the same rights as heteronormative marriages? Continue reading →
Today is the birthday of Martin Luther King Jr., a figure who needs no introduction. Fifty-five years since his famous speech, we are continuing to move towards King’s dream of “a nation where [we] will not be judged by the colour of [our] skin but by the content of [our] character.” Continue reading →
Tip #6 – Exercise boosts your mood. Go for a jog or bike ride when you feel overwhelmed. Continue reading →
Divorce was hard enough, and now alimony tax reform. Do you feel good or bad about alimony? No matter your answer, this alimony tax reform revolutionizes the divorce arena, and you need to know how it may affect you and your clients. Judges need to know how it might affect those whose appear before them as litigants. So let’s dig in. Continue reading →
We started our divorce recovery tip series to provide advice in an easily-digestible format, but sometimes we can’t say everything we want to in one image. This blog series will expand on our tips and provide some extra insight into the divorce recovery process.
North Carolina Divorce Lawyers Blog