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Alimony and child support are not created equal

Michigan estranged couples may need guidance when it comes to evaluating the tax consequences of divorce settlement offers. In cases where there is flexibility around the amounts of alimony and child support, the decision as to these amounts may have a significant impact on the taxes of the parties. From a tax perspective, child support and alimony are very different things.

Requirements for deducting alimony payments on taxes

When two people in Michigan separate or get a divorce, one might owe alimony to the other. While alimony is usually tax-deductible, there are several conditions that must be in place for a person to claim that deduction. The parties must live separately, and the separation or divorce agreement must not specify that the payment cannot be taxed or deducted. The arrangement must end on the death of the person receiving the payments. Finally, the alimony must be part of the separation or divorce agreement.

Common issues business owners face in divorce

Divorce proceedings are tricky enough, but when you are self-employed or a business owner, things get trickier. Knowing what common issues might arise while dividing business assets will help you understand the processes to expect and be prepared.

Who files in divorce? Why filing first matters

Once the decision to file has been made, it is important to find an attorney that you can rely on to guide you through the process and help you achieve your goals. While you may feel as though you have some time to shop for attorneys, it is important not to take too long. Even if you both agree that it is time to end a marriage, who files first matters. Find out three reasons why.

Who files in divorce? Why filing first matters

Once the decision to file has been made, it is important to find an attorney that you can rely on to guide you through the process and help you achieve your goals. While you may feel as though you have some time to shop for attorneys, it is important not to take too long. Even if you both agree that it is time to end a marriage, who files first matters. Find out three reasons why.

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Bingham Farms Office
30800 Telegraph Road, Suite 2715
Bingham Farms, MI 48025

Phone: 248-220-6963
Fax: 248-594-9909
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Northville, MI 48168

Phone: 248-220-6963
Fax: 248-594-9909
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