When most people hear the word alimony, they cringe - especially if it is the person being asked to pay it. However, there are reasons why you might want to pay alimony.
To start, alimony is viewed differently on your tax return than, say, child support. It is a tax-deductible expense for the paying party, and a taxed expense for the party receiving it. This is most advantageous in situation of grossly different incomes, when one party will actually benefit from the tax advantages. Judges are not always willing or eager to grant alimony in divorce cases.
This worked out well for one divorcing couple that realized a tax benefit with the husband's salary would more than make up for the wife's lower salary. He could even afford to pay her tax as well and still come out on top financially.
If you are curious about alimony payments and their advantages/disadvantages, speak with a Jacksonville family law attorney about your financial options. Contact our legal team today!