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Posts tagged "income"

The income tax consequences of alimony

Connecticut couples whose divorce orders involve alimony need to be aware of how the payments are treated by the IRS for tax purposes. Unlike child support, which does not have to be reported as income and which cannot be claimed as a deduction, alimony payments must be reported by the recipient and can be deducted by the payor.

Connecticut post-divorce alimony modifications

In Connecticut, alimony awards are court orders that must be followed. They are designed to provide for the support of one party by the other's making periodic payments to him or her for a given amount of time. A person who is ordered to pay alimony cannot simply stop doing so without first obtaining a modification of the original order.

How Connecticut sets spousal support levels

In the state of Connecticut, the support payments that are awarded to one spouse may have an impact on how marital property is divided. This makes is imperative for couples to try to work together to arrive at agreements they can both live with. If the courts are forced to play a role in the division of property and determination of spousal support awards, they will look at specific criteria.

Men and the financial aspects of divorce

Divorce may be just as emotional for Connecticut men as it is for women, even though some men may have a harder time expressing their feelings. There are several things that men should know about divorce that may help them get through the process with enough of their assets to start a new life.

Permanent alimony places burden on payers

In several states including Connecticut, the courts are rethinking the concept of permanent alimony, especially as they consider what a woman earns and how job upheavals can affect a husband's income. One 41-year-old man from New Jersey who was ordered to pay lifetime alimony has been taken into custody at least eight times in two years because he couldn't make payments. With former earnings of $1 million annually as an investment manager for a portfolio firm, he suffered when the economy struggled. He feels that court-ordered, lifetime spousal support isn't fair, especially when he doesn't have a job.

Battle of the sexes against alimony in the United States

Divorced spouses in Connecticut and nationwide are debating the topic of alimony. A recent news story follows a New Jersey professor whom reported that his permanent alimony was forced upon him despite his divorce settlement. Similar cases have arose with retired divorced couples unable to pay their spousal support. His is one of the many whom believe spousal support was ordered to him despite his constitutional rights.

Some men may receive alimony in Hartford

It's said that justice is blind, and that is becoming more apparent in the area of divorces and alimony. In the past, most husbands earned more than their wives. However, there are a growing number of marriages in which the wife is the breadwinner. As this trend changes, the face of spousal support is also changing. Now, it is not uncommon for a woman to wind up paying support to her ex-husband.

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