Alimony

When should you modify alimony?

Alimony, which is also known as spousal support, is typically awarded to a lesser-earning spouse at the end of a marriage. Alimony amounts are generally calculated during the divorce process, and the alimony may be paid for a limited period or virtually indefinitely,...

Is Alimony Taxable as Income in Florida

Is Alimony Taxable Income in Florida? For alimony to be deductible to the payor/spouse and taxable to the payee/spouse, the alimony must meet all of the elements of IRC section 71. Just to meet the criteria for alimony under a state statute is not enough if any of the...