One of the few if only benefits to paying alimony is that it is been tax deductible. That is, until now. If Trump's tax overhaul plan, a.k.a. The Tax Cuts and Jobs Act, is signed into law, the tax deduction that those who pay alimony would be eliminated. "Alimony payers won't be able to afford to give as much because they'll have to give it to Uncle Sam instead," said Nancy Hetrick, a certified divorce financial analyst and senior advisor at Better Money Decisions in Phoenix, Arizona. "There … [Read more...]
Alimony in Florida-How It’s Calculated and Who Pays
Florida alimony decisions are multi-faceted and there is no hard and fast calculation that can be used in all situations. Florida judges have wide discretion as to whom receives alimony payments, the length of those payments, the alimony amount, and the duration of the alimony. Usually, in divorce cases involving issues of alimony, the court will consider that couple's standard of living during the marriage as well as the need and ability to pay alimony once the former spouses separate and … [Read more...]
Florida Alimony Vetoed by Governor
A few months ago as the 2016 Florida Legislative session drew to a close, Governor Rick Scott vetoed a bill that had received strong support in both houses of the Florida Legislature. The bill, SB 688 would have required judges in divorce proceedings to begin with a premise that both parents are entitled to approximately equal time with their children. Governor Scott believes this provision is not in the best interests of the children. However, the majority of the bill dealt with the issue of … [Read more...]
