Alimony

https://falconcpa.com/wp-content/themes/osmosis/images/empty/thumbnail.jpg 150 150 speakeasy speakeasy https://secure.gravatar.com/avatar/29d284bad5b2222846cdf556f6ecad3d2ee33a3649ebe7ea836b570817284228?s=96&d=mm&r=g November 4, 2015 October 14, 2018

By: speakeasy

November 4, 2015

Question: I pay alimony. Is it deductible? Answer: Yes, alimony is deductible by the one paying it and taxable income to the one receiving it. In fact, for the payer, it is an “above-the-line” deduction which means it can be deducted to arrive at adjusted gross income (AGI) even if you take the standard deduction…