Potential Tax Impact Of Divorce GA

Spousal support is the right of one spouse to receive an award of money from the other spouse, on a temporary or permanent basis, whenever a court determines that the facts of that particular situation warrant it. Usually alimony is granted by the court only when a long term marriage ends. The other party must be able to pay alimony of the court is to award alimony to the other party. Alimony may also be grant short-term before a final divorce decree is awarded. If you receive spousal support, you need to plan for the potential tax impact of the income. Unlike an employer, your former spouse won’t withhold any taxes from your support check. You can deduct spousal support payments on your income tax return, but not child support or property distributions. You can, however, make spousal support payments nontaxable and nondeductible as long as it goes both ways and you both agree by stating as much in your marital settlement agreement. You might do this if the spouse receiving support is in a higher tax bracket than the paying spouse or if the paying spouse doesn’t need the tax deduction and the recipient spouse doesn’t want to report the income.

Our divorce attorneys are based in Columbus, GA (Georgia) and can represent you in Columbus, GA (Georgia), Fort Benning GA (Georgia), Chattahoochee County, Harris County, Marion County, Muscogee County, Lagrange, Atlanta, Albany, Newnan, Peachtree City, Carrollton, Muscogee County, Troup County, Phoenix City AL or Opelika AL.

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The Law office of Scot Sikes handles family law in Columbus GA. Scot Sikes is a Columbus GA divorce lawyer & Georgia child custody attorney.

706-494-6900 - www.columbus-divorce.com

Fort Benning GA military divorce lawyer,
GA Uncontested Divorce - GA Contested Divorce - Separation - Spousal Support - Property Division - Alimony - Military Divorce - Contempt Actions in Divorce Cases - Child Custody modification - Child Support Modification - Child Visitation. Columbus GA Divorce lawyer and uncontested divorce attorney.