News You Can Use: November 2018

News You Can Use: November 2018

If you are thinking of getting a divorce, consider wrapping it up this year. Alimony payments made in 2018 are deductible. However, any alimony payment made after 2018 are NOT deductible. Yuck!!

Even better, avoid all alimony next year and opt for a larger property settlement.

Other interesting news, It looks like there will be no further tax reform this year (2018), with the control of the House and Senate split. Frankly, although you may have liked a further tax cut, the HUGE deficit is making me very uneasy and may well create unsolvable problems for our country in the future. I am really worried about the economic future for our kids and grand kids as a result of this huge deficit.

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