Often used interchangeably, the terms alimony and spousal maintenance both refer to different types of financial support paid by one spouse to another, during or following a divorce. Understanding the ...
On the other hand, a one-time lump sum alimony is generally treated as a capital receipt and therefore not taxable in the recipient’s hands. When a divorce involves both a one-time settlement and ...
We have written a lot about termination of alimony based upon cohabitation, both before the 2014 Amendment to the alimony statute making it easier, and after the Supreme Court’s decision in the ...
NYC Spousal Support Attorney Juan Luciano Highlights Alimony Rules In High Net Worth Divorce. <a href = ...
Divorce can create a host of personal and financial problems for the parties involved. A misunderstanding about the tax consequences of a settlement agreement can exacerbate these difficulties. John ...
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If Marriage Is Equal, Why Isn’t Alimony?
Marriage, in theory, ends with love. In reality, it ends with law. What was once a private emotion becomes a public contract, ...
According to the Income Tax Act, 1961, the taxability of alimony depends on how it is paid: either as a one-time lump sum or ...
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