Скачать или смотреть What Is The Tax Difference Between Child Support And Alimony? - Tax and Accounting Coach

What Is The Tax Difference Between Child Support And Alimony? Are you trying to understand how divorce payments can impact your taxes? In this clear and straightforward video, we'll explain the differences between child support and alimony and how each affects your tax situation. We'll begin by defining what child support payments are and how they are treated by the IRS, emphasizing that they are neither taxable income for the recipient nor deductible for the payer. Next, we'll discuss alimony payments, highlighting how their tax treatment depends on when the divorce was finalized. You'll learn about the rules before and after January 1, 2019, and how recent changes under the Tax Cuts and Jobs Act influence your financial planning. We'll also cover important details such as how payments covering both child support and alimony are handled and the importance of understanding state-specific tax rules. Whether you're paying or receiving these payments, knowing how they impact your taxes can help you make smarter financial decisions during a divorce or separation. This video provides essential information to help you navigate the complexities of tax laws related to family support payments. Stay informed and plan effectively by understanding these key differences. Don't forget to subscribe for more helpful tips on tax and accounting topics!

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About Us: Welcome to the Tax and Accounting Coach channel! Our mission is to make tax and accounting topics approachable for everyone, whether you are a small business owner or someone looking to improve your personal finance skills. Here, you'll find content covering tax deductions, accounting basics, small business taxes, and practical tips for tax filing and bookkeeping essentials. We also share insights on IRS regulations, financial statements, and effective tax planning strategies to help you stay compliant and financially savvy.