If you get divorced after December 31, 2018, and are ordered to pay alimony, according to fox8live.com and New Orleans CPA Kemberley Washington, those alimony payments will no longer be considered a tax deduction on your federal tax returns:
"Those individuals seeking a divorce, as of December 31st 2018 you will no longer be able to take alimony as a deduction on your tax return," said Washington.
Washington says if you get divorced before the end of the year, your alimony payments will be grandfathered, meaning they will be tax deductible for as long as you pay them."
It might be best for your bottom line to get your divorce in place before the end of 2018. To schedule a consultation to discuss your options for a possible divorce in Louisiana, click here or call our office at (504)218-8570.