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spousal support Archives

The new tax law affects divorce and spousal support

Couples divorcing this year in New York may be surprised to learn that the new tax laws affect divorce and spousal support. According to CNBC, the changes reverse tax laws put in place almost 80 years ago that made it easier for ex-spouses to make and receive alimony payments. In the past, the spouse receiving alimony paid taxes on the amount received, while the paying spouse took a tax cut. The new laws allow the receiving party to exclude it from their taxable income, while the payer must now pay taxes.

What factors do courts use when calculating spousal support?

Spousal support, which you may hear called alimony, is one form of support ordered during a divorce by a New York court. Regardless of whether you will receive or pay it, it is helpful to understand how the court calculates it. The different factors the court considers will allow it to properly formulate how much you may pay or receive and for how long.

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