Scottsdale Divorce Lawyer | Owens & Perkins, Attorneys at Law
Spousal Maintenance, much like child support, is based off of the income of the party paying for it, but it is also based in large part on the financial needs of the party receiving the same. As we move through life, our income and respective financial circumstances can (fortunately or unfortunately) change. When that happens, …
Prior to January 1st, 2019, spousal maintenance was tax deductible for the person paying and was considered income for the person receiving the funds. Last year, the Tax Cuts and Jobs Act (TCJA) was passed changing the tax-law definition for spousal maintenance. TCJA eliminates deductions for spousal maintenance ordered by post 2018 dissolution agreements/orders. If …
In determining spousal maintenance and/or child support in a family court case, the Court must determine the income of the parties. Typically, this is a fairly simple process of looking at paystubs, W2s, tax returns, etc. Sometimes there are small curveballs thrown in such as variable bonuses, commissions pay, and the like. But what about …
“RECAPTURING” THE INCOME OF THE SELF-EMPLOYED SPOUSE OR PARENT Read More »
It has become increasingly popular for companies to offer stock options as part of an overall benefit package to attract and keep employees. Typically these stock options are granted at a certain time but do not vest until 1, 2, and even 3+ years into the future, giving the employee motivation to stay with the …
STOCK OPTIONS: BOTH AS COMMUNITY ASSETS AND AS INCOME Read More »
On April 5, 2018, the Arizona Legislature changed the spousal maintenance statute to make it easier for some spouses to qualify for spousal maintenance when divorcing. Reasons for Getting Alimony in Arizona A.R.S. § 25-319 is the statute in Arizona that addresses when a spouse qualifies for spousal maintenance and, if so, the amount and duration of the support …
If you followed our blog series this month so far, you should have a general understanding about the effects the new tax law may have on those of you contemplating getting divorced or looking at a possible modification of the orders regarding spousal maintenance. Hopefully you learned, in actual dollars and cents, the effects this …
Now that you understand generally the effects that the new tax law may have on those of you contemplating getting divorced or looking at a possible modification of the orders regarding spousal maintenance, we will now go through a couple of examples to show you specifically how this will affect your pocketbook and “bottom line” …
As we detailed in our last blog, if you are contemplating getting divorced or looking at a possible modification of the orders regarding spousal maintenance, then the new tax law will have a significant effect on both parties. Looking at it from the perspective of the trenches in family court, there are some clear winners and clear …
WINNERS AND LOSERS AS TO THE CHANGES TO SPOUSAL MAINTENANCE UNDER THE NEW TAX LAW Read More »
Unless you’ve been in quarantine at Guantanemo Bay or otherwise living under a rock the last few months, you are aware of the new federal tax bill, ie. the Tax Cuts and Job Act (“TCJA”) passed by Congress and signed into law by President Trump at the end of December. If you are looking at …
CHANGES TO ALIMONY AND SPOUSAL MAINTENANCE AS A RESULT OF THE NEW 2018 TAX LAW Read More »
My previous three blog posts discussed qualifying for spousal maintenance and the factors the Court considers when determining how much will be paid for how long. Once an order has been entered it can last for years or months. During that time things can change and one party may want to modify the order. To …
