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November 2017 Archives

Alimony deduction under review

The tax overhaul bill being reviewed in the nation's capital may eliminate a popular tax deduction. Section 1039 of the House bill, if approved, would take away the alimony deduction. While it may not generate substantial revenue, the proposed bill may have a large impact on taxpayers who pay spousal support and even its recipients.

Collaborative divorce is another option

Couples in New Mexico have several options to end their marriage through divorce. They can go to court, engage in divorce mediation or take part in a collaborative divorce. In a collaborative divorce, spouses enter a contract where they agree to resolve divorce issues through negotiation instead of litigation.