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Joined: Jul 2005
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NNP1965 Offline OP
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I know spousal support is taxable. Are the taxes taken out each month or do you just claim it all at the end of the year?


Me 54
DS19 and DS17
Married 06/1989
Divorced 01/2011
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To my knowledge taxes are not taken out each month. You will treat it as income on the return you file and will owe taxes based on your tax bracket. To compensate and not end up owing a large chunk of money at the end of the year, you may want to make quarterly payments yourself.

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NNP1965 Offline OP
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thank you smile


Me 54
DS19 and DS17
Married 06/1989
Divorced 01/2011
Joined: Jan 2008
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I am meeting with a financial advisor next Thursday for this very reason. Want to make sure I have enough money put into savings to plan ahead for tax time. I get child support and alimony. I know that the child support is not taxable, but the alimony is 100% taxable. So, I need to look into my options. As far as I am aware, I can have more of my actual paycheck withheld, to leverage what I will owe in alimony, or make payments ahead of time, or save up money for tax day...


Me-35

Together: 18 yrs
M-12.5 yrs
S-8
D-4
D'd: Feb. 2010

The LORD your God is with you,
he is mighty to save. --Zeph. 3:17

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