Craig’s Answer: Alimony, or “spousal support,” is payment from one spouse (“payor spouse”) to another (“supported spouse” or “payee spouse”) after they separate with plans to divorce. There are two types of alimony: Temporary alimony is a payment from the…

Read More

in    0

Craig’s Answer: It depends on the circumstances and the agreement between the parties, if there is one. There are two types of spousal support. “Temporary” support is paid during the divorce process and ends with a final divorce order. “Permanent”…

Read More

in    0

 Mike’s Answer: Spousal support is tax deductible for the party who pays it and is taxable income for the party who receives it. The federal IRS tax code spells out eight requirements for payments to be considered alimony/spousal support. If…

Read More

in    0