Tag Archives | divorce advice

Are divorce legal fees tax deductible?

Unfortunately, most of the fees associated with your divorce are not tax-deductible. However, some portions such as those related to any tax advice related to your divorce are deductible. Fees for Tax advice. The time and fees your attorney charges for any type of tax planning research or advice to you on items related to [...]

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Tax mistakes regarding the alimony rules

Alimony must be reported as taxable income by the person receiving it. Conversely, it is deductible by the payer (child support is not tax deductible). Unfortunately, many people are unaware that they must pay taxes on the alimony and they are hit with a huge tax bill at the end of the year. Make sure [...]

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