Posts

Showing posts with the label How much does a spouse receive in alimony after divorce?

How much does a spouse receive in alimony after divorce?

Image
  Jan Meriss Alfonso Assistant at Ascent Law LLC One question that often arises after a divorce is, "How much does a spouse receive in alimony?" In some cases, alimony payments are taxable, while in other cases, they may be deductible. Here are some examples. Whether alimony is taxable to the payer's spouse Whether alimony is taxable to a payer spouse after a divorce depends on the circumstances of the divorce. In most cases, the payer spouse will not be able to claim alimony payments as a deduction. In these cases, the paying spouse will need to evaluate how the payments will impact his or her annual income. There are some strategies that the payer spouse can employ to reduce the number of nondeductible alimony payments. One option is to transfer appreciated assets to the paying spouse. This could be an appreciated vacation home or securities in a taxable brokerage account. This strategy will reduce the payer spouse's overall estate and minimize monthly alimony payme...