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Can I write off Maintenance Payments on my taxes?

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In the United States, maintenance payments are often associated with alimony or spousal support. In 2022, the Tax Cuts and Jobs Act (TCJA) made significant changes to the tax treatment of alimony payments for divorce or separation agreements executed or modified after December 31, 2018.

Under the TCJA, alimony payments are no longer deductible by the payer for agreements executed or modified after that date. Additionally, recipients of alimony payments no longer include the alimony in their taxable income. It’s important to note that these changes do not affect agreements established before December 31, 2018, unless they are modified, and the modification expressly states that the TCJA rules apply.

If you are referring to a different type of maintenance payment, such as property maintenance or other contractual arrangements, the tax treatment may vary. Again, it’s essential to consult with a tax professional who can provide advice based on your specific circumstances and the most up-to-date tax laws. State tax laws can also influence the deductibility of certain payments, so considering Missouri’s specific tax regulations is crucial.

At Raza Family Law Solutions, we practice family law effectively guiding clients through prenuptial and post nuptial agreements, dissolution of marriage, modifications of prior judgments, and resolving child custody disputes. We also help families take a different approach to divorce with mediation and collaborative work.  Contact us for a consultation at (314) 314-5505.

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