Sentences with phrase «of alimony received»

Not exact matches

For example, someone who receives child support or alimony will likely have to provide a copy of the divorce decree.

AGI excludes certain types of income received (e.g., municipal bond interest, most Social Security income) or payments made (e.g., alimony paid, IRA deductions, moving expenses).

IRS statistics show that 96 % of persons receiving alimony are female.

Oh yeah, my ex-wife divorced me (the marriage was less than 20 years) and has refused to use a penny of alimony or the money she received from me at the time of the divorce, let alone her own income, for the children.

If your marriage was very short, if both of you are committed to ending your marriage without a legal or financial battle, if you have no children or assets, and if neither of you wants or needs to receive spousal support (alimony) from the other, then you may be able to process your own divorce using a kit or online tools.

Receiving alimony, child support, social security, pensions, disability, or other sources of income.

If an individual receives income from interest, dividends, pension proceeds, social security or unemployment benefits, alimony or child support, these do not count as earned income for purposes of the tax credit.

Marcus considers all sources of income for loan applicants, including child support, alimony, any government benefits you receive like Social Security and income you have from a regular job or a side gig.

Where child support and alimony are received by you from another person, generally the amount paid may be added to your total income before determining the size of mortgage you will qualify for, provided proof of regular receipt is available for a period of time determined by the lender.

Wages, salaries, tips, etc.; Taxable interest; Tax - exempt interest; Dividends; Taxable refunds, Credits or Offsets of State and Local Income Taxes; Alimony received; Business Income; Capital gains or losses; Other Gains and Losses; IRA distributions received (with certain Distribution Codes); Pensions and annuities (with determined taxable amounts); Supplemental Income and Loss (Rentals, etc); Farm Income or Loss; Unemployment Compensation; Social Security Benefits; Certain other income, including but not limited to Gambling Winnings and Foreign Income.

Whether you're an employee, self - employed, or receive regular income from another source like alimony or child support, retain bank statements, copies of checks and tax returns.

Only 15 percent of all divorced women are awarded alimony, and more than one out of four never receive any of the awarded alimony payments.

The IRS defines eligible income as: wages, salary, tips, professional fees, bonuses, taxable alimony, commissions resulting from profits or sales, income earned if you are self - employed and the sole proprietor of a business, and the income you receive as a partner for providing services.

If you use income from alimony or child support to qualify, expect to provide a copy of your divorce decree and proof that you receive the money regularly — canceled checks or deposit images showing the checks going into your account, perhaps.

For example, if the party receiving alimony decides to get remarried, the Arizona court has a legal obligation to terminate any remaining alimony payments, unless both parties agreed in the alimony order that the remarriage of the spouse receiving the alimony payments would not have those payments terminated upon remarriage.

A spouse may be awarded alimony after the court considers factors like the financial status of both spouses, whether the parties are able to support themselves, the time and expense necessary for either spouse to receive job or educational training, and the standard of living and duration of the marriage.

The first part of determining alimony is deciding if a spouse is eligible to receive support from the other.

Termination of Alimony on Remarriage in Arizona Questions sometimes arise regarding the termination of alimony on remarriage of the spouse receiving the aAlimony on Remarriage in Arizona Questions sometimes arise regarding the termination of alimony on remarriage of the spouse receiving the aalimony on remarriage of the spouse receiving the alimonyalimony.

A person who receives a monthly alimony or child support payment may depend on this support as part of his or her household's income.

Under the previous rules, the spouse seeking maintenance bore the burden of proof as to both the need to receive payments and the ability of the other spouse to pay them, both during the divorce case and as a limited, temporary or long - term alimony award as part of the divorce decree.

During your free initial consultation, the attorneys at Southpark Family Law can discuss with you whether you may be entitled to receive or obligated to pay Post Separation Support or Alimony in North Carolina and work with you to ensure your financial peace of mind.

According to the U.S. Census Bureau statistics, 98 percent of the 243,000 people who received alimony payments last year were women.

There are no specific requirements for the length of the marriage for a spouse to be eligible to receive alimony or spousal maintenance.

Commercial real estate is a good example of this: If rental income is used to pay alimony for a few years, and then the property is sold to be divided in equitable distribution, the sales price probably isn't less than what the owner could have received by selling the property in the first place.

Under both federal and state income tax rules, alimony will be deductible by the payor spouse, and is taxable to the receiving spouse, provided that: (1) the payments are in cash and not in kind; (2) the payments are made incident to divorce or to a separation agreement; (3) the parties have not designated the payments as non-alimony; (4) the parties are not living in the same household; and (5) the payor has no liability for payment after the death of the payee spouse.

Many residents of Louisville, Kentucky, are used to hearing about divorce cases in which the wife receives alimony from the husband.

Often the non military spouse does not need alimony at the time of the divorce, especially if that spouse can expect to receive a substantial portion of the veteran's military retirement.

Alimony, whether you are the paying spouse or the receiving spouse, is a big part of post-divorce financial planning for many Kentuckians.

The burden of the court is to figure out how the alimony and child support will affect the lives of those who are receiving it.

Also called post-separation support or spousal support, alimony is tax deductible to the paying spouse (or ex-spouse), and must be reported as income on the tax return of the receiving spouse.

Quebec's court of appeal upheld that judgment, but Wednesday's decision at the Supreme Court reverses that decision, saying the woman's situation has not changed — that she still suffers from multiple sclerosis, continues to receive disability payments and therefore, should continue to receive alimony payments from her former husband.

In determining whether a spouse should receive alimony, the court must focus on a list of 17 factors promulgated in the divorce code.

Think of how much more alimony you would end up paying (or not receiving) if your marital settlement agreement misstates the weekly amount by just $ 25 — over ten years, that's $ 13,000!

In the case of divorce, a judge may elevate the status of an ex-spouse to an irrevocable beneficiary in a life insurance contract to replace alimony he would not receive in the event of his ex-wife's death, for instance.

If your marriage was very short, if both of you are committed to ending your marriage without a legal or financial battle, if you have no children or assets, and if neither of you wants or needs to receive spousal support (alimony) from the other, then you may be able to process your own divorce using a kit or online tools.

Over the years, divorce has undergone an evolution — from the days when wives nearly always received alimony — to the beginning of no - fault divorces, starting in 1970.

The list of factors allows a state court to grant spousal maintenance if required by at least one factor on the list — however, no single factor automatically disqualifies a spouse from receiving alimony.

The amount of marital property received by the spouse during divorce, along with other financial circumstances, may affect the court's views regarding the appropriateness of alimony.

Courts may order alimony payments as part of a divorce decree and will typically order the paying spouse to make payments directly to the receiving spouse.

In some states, such as North Carolina, courts are required to terminate alimony, if established by court order, upon the paying spouse's proof of cohabitation by the receiving spouse.

Pennsylvania alimony laws establish a list of factors used by the state courts to decide whether a husband or wife should receive spousal support after divorce.

If a paying spouse falls behind on his alimony payments, the receiving spouse can file a motion asking the court to find the paying spouse in contempt of court and request a wage garnishment for the past - due alimony payments.

If one of your clients expects to receive spousal maintenance or alimony as part of a divorce settlement or court order, you may want to delay finalizing that client's divorce until the beginning of 2019 so he or she won't have to pay tax on the alimony or spousal maintenance payments.

Rehabilitative alimony is ordered to help a spouse adjust to post-divorce life and get back on her feet; it might provide for the education of the receiving spouse to enable her to become self - sufficient.

Massachusetts divorce law, Chapter 208 of the Divorce General Provisions, states that alimony is not awarded if the requesting spouse receives other property in the divorce.

Because the new tax law includes a provision that gets rid of the tax break divorcees currently receive for paying alimony.

If you wish to obtain increased alimony from your former spouse, or you want to extend the length of time you can receive alimony, you must take your ex back to court.

Considerations include, but are not limited to, whether or not one spouse will receive alimony payments, the earning capacity of both spouses, length of the marriage, contribution of the homemaker if applicable, custody arrangements, and debts and age.

Currently, Florida law permits a person who has been ordered to pay alimony (called an «obligor») to seek a modification or termination of his or her alimony order if he or she can prove that the spouse receiving alimony (called the «obligee») is in a supportive relationship.

(4) «Depository» means the central governmental depository established pursuant to s. 61.181, created by special act of the Legislature or other entity established before June 1, 1985, to perform depository functions and to receive, record, report, disburse, monitor, and otherwise handle alimony and child support payments not otherwise required to be processed by the State Disbursement Unit.