Briefly explain the tax consequences of alimony, child support, and property division.
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Child support payments are not deductible to the payer spouse and are not treated as income to the custodial parent. However, one of the most contentious issues between divorcing parents is who will get to claim the children as dependents on their tax return. Alimony payments made according to divorce decree are considered ordinary income to the recipient and deductible to the payer spouse. Under the non-recognition rule, the division or transfer of property made to a former spouse is not considered a taxable event provided the transfer is “incidental” to the divorce and if it occurs no more than one year after the date in which the marriage ends or the transfer is related to the ending of the marriage.
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Three strikes laws provide sentences that are usually
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Discuss what efforts you can take to protect private property while you are not on the premises.
What will be an ideal response?