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August 2018 Archives

New Alimony Laws Coming - How it May Affect You

After the new tax laws regarding spousal support were announced earlier this year, it is hard to go a week without hearing how it will affect people if they do not finalize their divorces by year's end. Under current tax laws, those paying alimony; whether they reside in Massachusetts or elsewhere, are permitted to use it as a deduction on their taxes, while those receiving it have to report it as income. For those who divorce in 2019, that is going to change.

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