The Tax Cuts and Jobs Act created significant ramifications in the divorce context, particularly on the income tax front.

  • This article discusses seven areas impacted by the new tax laws–including taxation of trust income and other important considerations.
  • Issues including taxation of alimony payments, the suspension of the personal exemption and the miscellaneous itemized deduction, as well as possible higher valuations for closely held businesses, are also covered.
  • Family law practitioners must stay informed about how the new tax laws could affect their divorcing clients.

This article was originally published on www.familylawyermagazine.com and is reprinted here with permission.

Please see important disclosures at the end of the article.

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