Difference between revisions of "Basic Principles of Spousal Support"
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The tax consequences of spousal support sometimes suggest that the basic amount should be adjusted. Because support is a deduction for the payor, he or she will pay less taxes and have more money left over at the end of the year; for a recipient, taxes will be owing on the support payments, and he or she will have less money than expected at the end of the year. | The tax consequences of spousal support sometimes suggest that the basic amount should be adjusted. Because support is a deduction for the payor, he or she will pay less taxes and have more money left over at the end of the year; for a recipient, taxes will be owing on the support payments, and he or she will have less money than expected at the end of the year. | ||
These tax issues are | These tax issues are usually resolved in one of three ways: | ||
#the tax consequences of spousal support can be ignored altogether (this is the most common approach), | #the tax consequences of spousal support can be ignored altogether (this is the most common approach), | ||