2021 Stimulus Check Will Not Be Garnished for Child Support According to IRS
If you or your spouse lost out on the first stimulus payment due to child support debt, you won’t have to worry about your second payment being garnished.
Archive / Tax Matters
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How the New Tax Laws from 2017 – 2018 Affect Single Fathers and What You Should Do About It
As we mentioned a couple of weeks ago, the new tax law passed in 2017, and effective in 2018, has serious impacts for single fathers. The most glaring of these impacts – which also seems to be the least covered – is that it it completely does away with the deduction for spousal support (also […]
The New Tax Law Does Away with Alimony, Spousal Support Deduction
With very little fanfare, the new tax law that was passed at the very end of December, 2017, and which is effective in 2018, did away with the requirement that spousal support (previously known as alimony) receivers declare spousal support as income and, on the other side of the balance sheet, did away with the […]
Who Gets the Tax Exemption for a Child of Divorce?
Summary: I am divorced, and my daughter lives with my ex. I pay nearly 100% of all expenses for my daughter, and certainly far more than half. I can take the tax exemption for my daughter, right? This is a very timely question. With tax season soon upon us, we would do well to flesh […]
Are Gambling Losses Tax Deductible?
Summary: My wife and I took a trip to Las Vegas this year, and while we did not go over our budget, we did suffer a bit of a loss at the blackjack table in the casino. I have been told by a friend that it may be possible to deduct my gambling losses on […]
Why Isn’t Child Support Tax Deductible or Pre-Tax?
Dear Esq., Thank you for reading my e-mail. You are the one I was hoping to contact and get some insight on an issue that has me quite perplexed. The issue is “Child Support”. It is based on gross income and then age of children and number of children. Right? Well then a dollar amount […]
Marriage or Divorce – Check Your Social Security Number
Summary: Newlyweds and the recently divorced should make sure that names on their tax returns match those registered with the Social Security Administration (SSA).