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 […]
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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