Alimony, Child Support, and Tax Filing

One thing you may need to keep in mind regarding your tax filing is the distinction between alimony and child support payments.

Child support is not considered a tax-deductible expense or taxable income. Alimony, however, is considered deductible. In some cases, divorcing spouses may try to declare a property settlement or child support as alimony payments. The IRS strictly regulates this and has several rules regarding what is considered alimony.

For more information call the Burnham Law Group, LLC at (856) 751-5505 or contact us online.

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