Facebook

Twitter

Copyright 2015 IDN.
All Rights Reserved.

8:00AM - 5:00PM

Our Opening Hours Mon. - Fri.

Facebook

Twitter

Search
Menu
 

racine Tag

Controversial Child Support Proposal Dropped

“Officials in Gov. Scott Walker’s administration have dropped a controversial proposal to reduce the amount of money wealthy parents pay in child support.” For the full article, please click here: http://host.madison.com/wsj/news/local/govt-and-politics/catching-up-effort-to-change-child-support-rules-for-wealthier/article_33148aaa-bc6e-5613-a627-5d8845ac0320.html...

Continue reading

Social Security and Divorce

“In the case of a currently married couple, only one spouse can claim spousal benefits. To do so, one spouse must file for Social Security benefits. Then the other can file "a restricted claim for spousal benefits" on the first spouse's record and collect half of the first spouse's FRA amount while their own benefit grows up to age 70, then switch to their own maximum benefit.” For the full article, please click here: http://www.investmentnews.com/article/20180307/BLOG05/180309941/social-security-and-divorce-mary-beth-franklin-answers-your-questions...

Continue reading

New Tax Law and Alimony

“Currently, alimony is taxable for the recipient but not the payer. The spouse paying the alimony can deduct it from income before the adjusted gross income is figured. (This is known as an "above the line" deduction.) The recipient then pays taxes on the alimony received. Going forward, however, this would be reversed: Alimony will be paid with aftertax dollars, and the recipient will not have to pay taxes on it.” The full article can be found here: http://news.morningstar.com/articlenet/article.aspx?id=844758...

Continue reading

Update on Child Support Proposal

“A controversial proposal from officials in Gov. Scott Walker’s administration to reduce the amount of money wealthy parents pay in child support remains stalled nearly a year after the rule change was proposed.”   The full article can be found here: http://host.madison.com/wsj/news/local/govt-and-politics/catching-up-no-movement-on-new-child-support-rules-for/article_879684e3-7791-5edb-8984-17190dca3813.html ...

Continue reading

GOP Tax Plan Eliminates Tax Deduction on Alimony (Spousal Support)

“On Wednesday, November 1, 2017, the House finally released their proposal for tax reform and one item on the list is to eliminate the deductibility of spousal maintenance/alimony for payors. This could have a significant impact on marital settlement agreements going forward and even require re-negotiation for divorces completed in 2017 based on the assumption that the maintenance already ordered would be tax deductible to payor.”  For the full article, please click here:  https://divorcefinancialtraining.com/gop-tax-plan-eliminates-tax-deduction-on-alimony/...

Continue reading

Court Says Hmong Couple Had Putative Marriage, for Purposes of Divorce

“[O]ur decision in this case should not be read to indicate that all marriages performed according to Hmong cultural traditions, or the traditions of other cultures, are per se valid in Wisconsin,” Judge Stark wrote. “Rather, each purported marriage must be analyzed on its own facts to determine whether it qualifies as a putative marriage…”  The full article can be found here: http://www.wisbar.org/NewsPublications/Pages/General-Article.aspx?ArticleID=25945  ...

Continue reading

“The Best States to Get Divorced if Your Spouse is Loaded” by Tanza Loundenback

Racine, Kenosha Divorce Attorney

A Wisconsin State Agency seeks to reduce child support paid by high income earners. The agency proposes a reduction in child support paid by parents making between $300,000 and $500,000 annually. The proposed change would introduce a sliding scale to reduce the percentage of income between $300,00 and $500,000 that would be paid. Please see the full Wisconsin State Journal article at: http://host.madison.com/wsj/news/local/govt-and-politics/state-proposes-to-reduce-amount-wealthy-parents-pay-in-child/article_8c542c9a-963d-5dfa-a92e-361968a7f675.html...

Continue reading