The Tax Cut and Reform Bill passed in late December, shaking up tax brackets and deductions. The changes are the most significant changes to the tax code in decades. Among the changes is the loss of key deduction for individuals paying spousal maintenance/alimony.
Parenting is a job for life. One of the challenges for parents who are no longer together is finding a way to co-parent. The following are some tips for making the job of co-parenting easier.
The social media juggernauts, Facebook and Twitter, have changed the way we relate to each other. In the decade since their creation, these social media platforms have become an important part of our everyday existence. Photo sharing platforms, such as Instagram and Snapchat offer visual snapshots of our lives. We use social media not just to share our lives, but to discuss them as well.
Child support can be modified. Unlike the division of property, which is permanent in a divorce, a child support arrangement can be modified to adjust for life changes.
What will your life look like after divorce? How much will you pay in child support? It is not always easy to envision what life will look like as a divorced parent especially regarding finances. One of the issues divorcing parents will have to resolve is that of child support. Although courts are increasingly creating more shared parenting time arrangements, in most cases one parent will still be responsible for paying some degree of child support. This is especially true when one parent’s income exceeds the other parent’s income and if the payor is a high income wage earner.