Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to www.drfriday.com. This is a one minute moment.
Is it true that alimony is no longer a deduction? Answer is yes, it is true! Under the new tax laws if you divorce… now this is very important. If you were divorced before December 31 2018, nothing changed. You are still going to pay tax on alimony, you’re still going to deduct. If you divorce as of January 1 2019, you will not be deducting alimony and you will not be paying tax on alimony. Very important change for some people. So make sure you don’t make that mistake because I have helped people thinking that they no longer have to pay taxes.
So if you’ve got questions, call me.
You can catch the Doctor Friday Call-in Show live every Saturday afternoon from 2pm to 3pm right here on 99.7 WTN.