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Alimony: If the divorce was finalized in 2019 or beyond, alimony payments won’t be considered taxable income or be eligible for a tax deduction. Alimony payments may be deductible or reportable ...
The determination of alimony varies greatly from state to state within the U.S. [6] Some state statutes, including those of Texas, Montana, Kansas, Utah, Kentucky and Maine, give explicit guidelines to judges on the amount and/or duration of alimony. In Texas, Mississippi and Tennessee, for example, alimony is awarded only in cases of marriage ...
In Texas, for example, divorcing spouses can enter into spousal maintenance agreements voluntarily. Texas courts do not issue orders compelling someone to pay alimony.
Alimony is a court-ordered sum that one former spouse must pay to another due to a separation or divorce agreement. You might sometimes hear about spousal maintenance or spousal support, which are ...
The Texas Family Code does not provide for "palimony.” This means you cannot gain rights under the Texas Family Code because you lived with someone absent a valid marriage. You can, however, create an agreement "on consideration of nonmarital conjugal cohabitation" under the Texas Business and Commerce Code (Tex. Bus. & Com. Code § 26.01(b)(3)).
A “filial responsibility law” is not the same thing as the provision in United States federal law which requires a “lookback” of five years in the financial records of anyone applying for Medicaid to ensure that the person did not give away assets in order to qualify for Medicaid.
The Tax Cuts and Jobs Act made a big impact on filings for tax year 2018. From nearly double the standard deductions to new tax brackets, last year's tax filers had to adjust to changes to their...
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