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Posts tagged "divorce"

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Are child support and alimony taxable?

Divorce is one of those things that seems to touch every area of life, whether you expect it o or not. One area that you will need to pay special attention to following a divorce is how you budget for and prepare your taxes. Taxes affect child support payments and alimony differently, and should be approached carefully. While it is always wise to consider having your taxes prepared by a tax professional, a general understanding of how taxation is leveed against child support and alimony for both spouses can help you plan well.

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