Month: November 2018

Dealing With The New Alimony Deduction Rules

For about a generation, spousal support payments have been tax-deductible for obligors and alimony receipts have been tax-reportable for obliges. Effective January 2019, the times they are a-changin’. Payments will no longer be tax deductible and receipts will no longer be tax-reportable. According to some, the change is just a ripple in the ocean. According …

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state and local tax

Reassessing Some SALT Deduction Workarounds

In the runup to the 2017 tax reform package, the State And Local Tax deduction “loophole” fell into the crosshairs. Lawmakers predicted that lowering the SALT limit to $10,000 a year would raise hundreds of billions of dollars. Besides, they asserted, this change will not affect 90 percent of taxpayers. That’s very small comfort to …

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