//After 2019, Alimony Payments No longer Tax Deductible

After 2019, Alimony Payments No longer Tax Deductible

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By Robin Postell

VALDOSTA – A change in new Republican tax law is currently giving the wealthy much more incentive to get divorced before January 1, 2019.

Financial advisors are urging their clients to go ahead and divorce now if they’re thinking about it. Divorces must be signed and finalized by December 31, 2018 if they still want to deduct the payments going forward.

Those who file for divorce in 2019 won’t be able to deduct alimony from their taxes. According to the IRS, roughly 600,000 taxpayers claim the deduction every year.

This will be most salient for couples divorcing who have significantly difference individual incomes.