Alimony Tax Deduction to End Under New Tax Law

With the recent passage of the new tax law, there is a good chance you will be in a new tax bracket when you file your 2018 taxes next year. However, if you’ve already filed or are considering filing for divorce in 2018, there is a less talked about provision in the new tax bill that you need to take note of: the alimony tax deduction has been eliminated, effective December 31, 2018. Under current law, the tax code permits the payor (the person paying alimony) to deduct the alimony payments while counting as taxable income to the recipient....

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