The Tax Cuts and Job Act (TJCA) Eliminates the Alimony Tax Deduction in New Jersey and Nationally On January 1, 2019, alimony became tax-neutral under the new rules of the Tax Cuts and Job Act (TCJA). Payors cannot deduct payments of alimony from their taxable income and recipients of alimony do not have to claim […]
Divorce can be a difficult process emotionally, but it’s even more challenging when a couple is dealing with high-value assets. Divorcing without legal assistance is always a mistake, but it can be financially devastating with substantial assets, businesses, trusts (on-shore and off-shore), and other complex investment vehicles. The mistake some couples make is thinking they […]
The Gourvitz Firm prevented a New Jersey divorce judgment from being modified in Italy, despite the fact that both parties reside in Italy. The Gourvitz Firm had represented the wife/ex-wife for over 20 years. The husband alleged that wife’s sizable inheritance including the family castle and her alleged cohabitation were sufficient factors to stop the […]
Governor Christie on Wednesday September 3, 2014 signed legislation that gives Judge’s somewhat clearer guidance about how to handle issues of alimony in general, cohabiting, retirement, and unemployment. While the new law codifies some existing case law and shall we say “rules of thumb” that Judges in essence utilize, it still leaves a lot of […]
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