Is alimony taxable?

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No It is not
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What is taxable income?

Taxable income is the portion of income that is the subject of taxation according to the laws that determine what is income and the taxation rate for that income. Generally, taxable income refers to an individual's (or corporation's) gross income, adjusted for various deductions allowable by statut ( Full Answer )

How can you get alimony?

You need to consult with an attorney who can review your situation and explain your options under your state laws.

Are stipends taxable?

Answer . Generally, yes. (There are some fairly special exceptions). A rose by any other name is still but just a rose. Same holds true with salary from your employer.

How do you get alimony?

The present day term for alimony is spousal support . This can be awarded to either spouse in a divorce proceeding depending on need, length of the marriage, the role of the parties in the marriage and ability to pay. If both parties are self sufficient alimony is not awarded. It may be awarded tem ( Full Answer )

What is alimony?

Answer A set amount of money paid from one spouse to another to help the lesser-earning spouse maintain a certain standard of living. Alimony is most common in situations where one spouse makes considerably more than the other. Also referred to as "spousal support". Answer Alimony is a payment mad ( Full Answer )

Are lawsuits taxable?

It depends on what the results are. Usually, because they are compensating you for something you lost, and had supposedly already paid taxes on, there is no tax on the compensation portion. If there are portions of the settlement that are punative, they can be taxed. Consult with your attorney, th ( Full Answer )

Alimony in California?

Alimony in California is determined by presiding Judges andofficials. Alimony, of course, is mainly awarded to mothers withdependent children. These mothers, of course, have divorced theirhusbands, or have been abandoned or estranged by the biologicalfathers of their children. In order to receive al ( Full Answer )

Is ssdi taxable?

SSA Online help reference; . Some people who get Social Security disability benefits will have to pay taxes on their benefits. Less than one-third of our current beneficiaries pay taxes on their benefits.. You will have to pay federal taxes on your benefits if you file a federal tax return as ( Full Answer )

How can you get your alimony money if your ex is not working?

If your ex is not working then I do not think you can get alimony...the whole point of alimony is for the "dominant" partner...as in the one that makes more money, to provide financial support for the other after a divorce, but if they are not making any money themselves then you cannot expect them ( Full Answer )

How do you qualify to get alimony?

Be a woman, Tell the judge you want every dollar your ex will ever make, you don't want to ever work again, and it is your opinion that he should be punished for life. He will award you everything and anything you want, Also if you want more than that move to Florida, file there, because men in divo ( Full Answer )

Who are the taxable persons?

In the Internal Revenue Code there is a tax imposed upon taxable income and that is defined as gross income or adjusted gross income which amounts to income earned in a taxable year by a taxpayer. A taxpayer is any person subject to any revenue laws. Is that clear? It isn't to me, and I ( Full Answer )

When does alimony stop?

You need to review the particular court order that addressed alimony. There is no universal answer to that question..

How long do you have to be married to get alimony?

There is no brighline answer to this question but usually short marriages to not qualify a spouse for alimony because there is an assumption that there was not enough time to create the need for alimony payments. More specifically, the court assumes that you have kept the same ability to support you ( Full Answer )

Are drawings taxable?

they are if you sell them and they create income. and also if they are bought with a view to their appreciating in value.

Can one get alimony if a marriage is annulled?

Some states allow you to receive temporary alimony while the case is pending in court, however, you cannot receive alimony after the annulment has been granted.. This is because an annulment declares the marriage to be "void" and erases it as if it never existed under the law. Spousal support canno ( Full Answer )

What is taxable pay?

The amount of an individual's annual income on which tax is payable Here is a link: http://www.finance-glossary.com/define/taxable-pay/1415/0/T

What is taxable investment?

An investment, whose returns are taxable can be termed as taxable investment. For ex: In India, the interest earned on bank deposits are taxable. Hence depositing money in fixed deposits can be considered as a taxable investment

Is software taxable?

It depends. Some states apply sales tax to software, some don't. If you receive software in payment in exchange for goods or services, the value is subject to income tax. If you give gifts of software, the value can be subject to gift tax. And so on.

Is gratuity taxable?

Yes the amounts are property, etc received would be taxable income to the receiver of the gratuity.

How to file for alimony?

Alimony is granted as part of a divorce proceeding. Alimony arrangements are generally agreed to by divorcing spouses in their marital settlement agreement or by court order by the court with jurisdiction over the divorce.

Who gets alimony?

If both work but the parent with custody of the children cannot make the payments of the basic household finances on their own, they should be awarded alimony for an allotted time, until their situation can be transitioned into their new life.

Is stipend taxable?

If the stipend was for books or education, it is not taxable. Otherstipends may be taxable depending on their purpose.

Can you get alimony after the divorce?

It's possible to seek a modification of the divorce decree afterwards. You'll need to consult a lawyer who is familiar with the law in your state to get a definitive answer, though.

Is alimony and child support taxable income?

Alimony is, child support isn't, though in some cases, it should be. The more alimony paid means less child support paid, as it lowers the obligor's taxable income.

Can you get alimony with no kids?

If you're in the US, yes. Alimony is not for the support of children, it's for the support of ex-spouses. However, judges are not required to order alimony, and usually they only order it in specific circumstances.

What is taxable interest?

Interest received from bank accounts, interest received on loans made to others, and interest from other sources are termed as taxable interest. Some other examples of taxable interest are interest on money market certificates, and deposited insurance dividend. In other words interest that can be wi ( Full Answer )

Are loans taxable?

Not as a loan but if you put it into an account such as savings or checking it can then be taxed ans A loan is NEVER taxable. (If you invest the money in something, say get paid interest on it, that interest may be taxable, but the principal of the loan never is). Nor is it's repayment ever ( Full Answer )

What is taxable credit?

children, w2s and household utilities ans All the above are entirely incorrect. A tax credit is a term for many things available under tax laws that provide for a dollar for dollar "credit" or benefit to be used to pay tax otherwise due. It is unlike a deduction which only reduces the tax ( Full Answer )

Are casinos taxable?

If you mean do you have to pay taxes on any winnings from a casino, yes, you are supposed to.

Is commission taxable?

It sure is. It is as much "income" as any other pay in your payslip. Also note: Self-employed income or cash received is as taxable as any other remuneration source.

How do you protect your alimony from collectors?

Depends if you want to do it the legal or illegal way. LEGAL: You could always get a job with lower income then your ex. ILLEGAL: Ask to get paid "Under the table", or work the corners.

What is taxable profit?

TAXABLE PROFIT should be your NET PROFIT from your business operations because that would be that amount that would be subject to all of the different taxes that you would be liable for on your NET profit from your business operation.

Does alimony stop when you turn 62?

It Stops when judge ruled in such case ,some get it till you remarry or until you die other half of marriage years you had together..

Does custodial Parent pay alimony?

This depends on the country or state you live in. Best answer I can give you is call your local courthouse or City Hall and ask them, they should be able to give you the answer.

Can a wife get alimony from a cheating husband?

Alimony is a maintenance payment by a person to his or her spouse. The rules vary significantly between states and between countries but in general, the payment is set by a court and will take into account matters such as behavior of both parties , previous lifestyle and the needs of each person. Ch ( Full Answer )

What is taxable in Texas?

For sales tax purposes, all tangible goods are taxable unless there is an applicable exemption, e.g. manufacturing equipment. A seller should assume the goods are taxable and charge tax unless an exemption certificate is accepted in good faith. In addition to tangible goods being taxable, Texas impo ( Full Answer )

Can Alimony be garnished from wages?

Yes. However, the Consumer Credit Protection Act limits the amount. Your wages can be garnished up to a maximum of 50% to cover child and/or spousal support if you are supporting another spouse or child. If you are not supporting another child and/or spouse, up to 60% of your wages can be garnished. ( Full Answer )

What is the difference alimony and child support?

"Child support" is self-explanatory. Alimony (or maintenance) is intended to support the former spouse. It is usually temporary, until the former spouse can become self-sufficient.

Is Florida alimony enforced in Indiana?

Yes, under the Uniform Domestication of Foreign Judgments Act , which arises from the Full Faith and Credit clause of the U.S. Constitution.

What can you do if your spouse stops sending alimony?

Nothing. Alimony is only required by court order in the case of a divorce. A current spouse cannot be compelled to send alimony. Let's leave the semantics aside for the moment. If your ex -spouse stops sending the court-ordered alimony, then you can report them (if you're not sure who to report ( Full Answer )

How can you lose alimony?

Where the former spouse-payor proves to the court that a change in circumstances on the part of the former spouse-payee has occurred such that it should no longer be lawful that the former spouse-payor should continue to be required to pay.

What is monthly alimony?

monthly alimony: is money you are ordered to pay (on a monthly basis) by court, to a divorsed or separated spouse.

Is mortar taxable?

All building supplies are subject to sales tax in states that impose a sales tax.

How can you get alimony if you cheated?

You don't deserve a dime if you cheated, but unfortunately it ispossible depending on the laws of your state. You should get a(really good) lawyer to argue why you "deserve" alimony.

Can your alimony that you get increase?

The alimony you get can increase based on the income of both spouses. If the person paying the alimony starts to make more money, they can be required to pay more based on a percentage.

What is a sentence for taxable?

Example sentence - She was surprised to learn the money she received for spousal support is taxable income.

What can a alimony attorney do for me?

A divorce lawyer will handle the complicated process of dissolving a marriage, this includes, alimony and property division and child custody agreements. The lawyer will advise you appropriately according to your circumstances. When a marriage breaks down and divorce proceedings commenced it is norm ( Full Answer )

Why is insurance not taxable?

To give more impetus to general public, insurance is not taxableboth to both at entry and exit point. In India, paying insurancepremia is considered u/s. 80C, while maturity payment is totallytax free u/s. 10,10(D) of Indian Income Tax Act. These exemptionfrom paying taxes makes insurance more attra ( Full Answer )