If your divorce finalized on or before December 31, 2018, anyone paying alimony can claim spousal maintenance expenses to receive a tax deduction. Additionally, the recipient of the alimony will declare their payments as taxable income. However, new laws swept the nation affecting divorce judgments and modifications as of January 1, 2019. Here is how the new rules will affect you.

The Party Making Payments

If you finished signing the divorce settlement last year, the new tax laws do not pertain to you. Anyone just tying up the loose ends of their divorce or making modifications this year need to know that, going forward, any alimony paid is no longer tax-deductible.

How much you spend is also different with new calculation guidelines. Previously, maintenance payments were calculated by subtracting 20% of the recipient’s gross income from 30% of the gross income of the payor, capping out at 40% of the total combined gross income of both parties. One new change uses net income rather than the previous gross income standard. Today, a spousal maintenance payment is calculated by subtracting 25% of the recipient’s net income from 33.33% of the payor’s net income.

Formerly referred to as alimony, spousal support is intended to provide a spouse with lower income or lower income potential with financial support after a divorce. Prior to awarding spousal support to a spouse, the court considers several factors including the age of each spouse, the couple’s standard of living during the marriage, the assets and income of each spouse, sacrifices a spouse made to support the other spouse’s career or education, and the present and future earning capacity of each spouse.

While most people understand the basics of spousal support, many wonder when it ends. Read on to find the answer to this question.

Events That May End Spousal Support

If you are considering divorce or have recently gone through the divorce process, you should know that there are new trends that may help you and your family cope with divorce and enjoy a high quality of life. Here is a brief overview of some of the common new divorce trends:

Divorce Coaches

Divorce can be overwhelming, making divorce coaches invaluable resources. A divorce coach can serve as a counselor and help a couple get through the difficulties of divorce. They can also provide valuable advice regarding parenting or finances.

Divorce is a major life decision that can change your life forever. Before initiating the divorce process, you should make sure you are getting divorced for the right reasons. Below is a list of questions you should ask yourself when considering divorce. By answering these questions, you can determine whether or not a divorce makes sense for your particular situation.

1. Do you have feelings for your spouse?

Ask yourself if you have feelings for your spouse. You may find that you still have feelings of love and affection but are simply angry at them for a particular reason. Since you want to avoid making a mistake, it is a good idea to seek couples therapy if there is any love left.

The divorce process can be stressful, expensive, and take up a great deal of your time. If you have children, you should know that there are a variety of ways you can become a better parent after divorce. Here are some tips to help you out:

1. Make Time for Your Children

It can be difficult to adjust to a new life after a divorce. While you are adjusting, be sure to make time for your children. Their needs should be your top priority so even if you are busy, taking them out for ice cream, reading a bedtime story, or helping with homework can make your children feel cared for and loved.