Our attorneys are knowledgeable and experienced in counseling clients regarding the substance and application of alimony law in New Jersey. Alimony can be one of the most rancorous issues in divorce, so it helps to know that your attorney is familiar with the law, its application and other factors that might affect your alimony, whether you are paying or receiving. We will advise you as to what you can reasonably expect alimony.
The Tax Cuts and Jobs Act of 2017 (President Trump’s new tax law) reversed the decades-long tax treatment of alimony as being deductible by the payor and taxable to the recipient. Our attorneys are prepared to help you navigate how the new tax treatment of alimony will affect you, now or in the future.
Most people are now aware of New Jersey’s 2014 alimony reform. Even if you were already paying/receiving alimony when that was passed, there may still be aspects of the reform that can affect you, from changes in income and unemployment, to cohabitation and retirement.
Alimony is also tax deductible expense for those that pay it, and taxable income for those receiving payments. Whether you're paying alimony or receiving it, you need to consult with a family lawyer at Martine & Katz Scanlon, P.A. in Camden, Burlington, Gloucester, & Cumberland County, NJ today!