TAX BILL REPEALS ALIMONY DEDUCTION
The Conference committee tax bill in Congress maintained the proposal to repeal the alimony deduction. Alimony is the same as spousal support in Ohio and will similarly repeal the tax deduction for spousal support.. This is one of the most revolutionary and controversial changes in family law in decades.
Our team feels this situation can be avoided if one major factor is considered: this significant change in terms of alimony will only affect those whose divorce or separate instrument is executed after December 31, 2018.
Come the new year, everything will be subject to change. Future modifications, from today until December 31, 2018, can still remain deductible upon modification. Divorce does not have to be completed by the end of the year–instead, a Separation Instrument simply needs to be signed.
If you are concerned about the future of this law and don’t want to risk anything negatively affecting the dissolution of your marriage, our team of Columbus family law attorneys of Weis Law Group highly suggests you start this process as quickly as possible–there is not much time left.
You may learn more about this bill to repeal alimony deduction by clicking here or view the full text by clicking here (https://www.congress.gov/bill/115th-congress/house-bill/1/text/eas2?)
CONTACT OUR EXPERIENCED & SKILLED COLUMBUS FAMILY LAWYERS TODAY
At Weis Law Group, we are dedicated to helping you resolve any and all of your alimony needs. Regardless of the nature of your concern, we have the tools and resources necessary to help you during this undoubtedly challenging time. Allow us to fight for your rights today.
Please don’t hesitate to contact us at your earliest convenience by calling (614) 732-5566.