Plain Language of Change:
- The deduction for alimony paid is disallowed after 2018
- The recipient does not need to claim alimony as income after 2018
- This rule applies to divorces executed after December 31, 2018 or modified with regards to qualified alimony after 2018
Cordasco & Company PC is a boutique CPA firm specializing in federal and state tax issues. We provide customized tax and accounting services specifically designed to help our clients capitalize on the rapidly changing tax and accounting environments.