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#21
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After 13 years, mom gets $66,000 in child support
"bleed-22" wrote in message om... Hey Zimm: He was meeting his obligation. He was paying 600 dollars a month plus 1600 in alimony. 2200 dollars a month in tax free income for her. Alimony is not tax free - the recipient pays the taxes on it. |
#22
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After 13 years, mom gets $66,000 in child support
"bleed-22" wrote in message om... Hey Zimm: He was meeting his obligation. He was paying 600 dollars a month plus 1600 in alimony. 2200 dollars a month in tax free income for her. Alimony is not tax free - the recipient pays the taxes on it. |
#23
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After 13 years, mom gets $66,000 in child support
"Moon Shyne" wrote in message ... "bleed-22" wrote in message om... Hey Zimm: He was meeting his obligation. He was paying 600 dollars a month plus 1600 in alimony. 2200 dollars a month in tax free income for her. Alimony is not tax free - the recipient pays the taxes on it. The wage earner pays the payroll taxes. When there is a great disparity of income between the parties often times the SS recipient is awarded family assets (like the family home) that generate tax deductions. So in practice, while the SS is taxable to the recipient, no taxes are paid because the deductions plus the child exemptions offset the taxable amount received. |
#24
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After 13 years, mom gets $66,000 in child support
"Moon Shyne" wrote in message ... "bleed-22" wrote in message om... Hey Zimm: He was meeting his obligation. He was paying 600 dollars a month plus 1600 in alimony. 2200 dollars a month in tax free income for her. Alimony is not tax free - the recipient pays the taxes on it. The wage earner pays the payroll taxes. When there is a great disparity of income between the parties often times the SS recipient is awarded family assets (like the family home) that generate tax deductions. So in practice, while the SS is taxable to the recipient, no taxes are paid because the deductions plus the child exemptions offset the taxable amount received. |
#25
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After 13 years, mom gets $66,000 in child support
"Moon Shyne" wrote in message ... "bleed-22" wrote in message om... Hey Zimm: He was meeting his obligation. He was paying 600 dollars a month plus 1600 in alimony. 2200 dollars a month in tax free income for her. Alimony is not tax free - the recipient pays the taxes on it. The wage earner pays the payroll taxes. When there is a great disparity of income between the parties often times the SS recipient is awarded family assets (like the family home) that generate tax deductions. So in practice, while the SS is taxable to the recipient, no taxes are paid because the deductions plus the child exemptions offset the taxable amount received. |
#26
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After 13 years, mom gets $66,000 in child support
"Bob Whiteside" wrote in message link.net... "Moon Shyne" wrote in message ... "bleed-22" wrote in message om... Hey Zimm: He was meeting his obligation. He was paying 600 dollars a month plus 1600 in alimony. 2200 dollars a month in tax free income for her. Alimony is not tax free - the recipient pays the taxes on it. The wage earner pays the payroll taxes. The wage earner deducts all alimony from his income when doing his tax return, thereby reducing his taxible income. The recipient has to declare all alimony as income, thereby raising her taxible income. |
#27
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After 13 years, mom gets $66,000 in child support
"Bob Whiteside" wrote in message link.net... "Moon Shyne" wrote in message ... "bleed-22" wrote in message om... Hey Zimm: He was meeting his obligation. He was paying 600 dollars a month plus 1600 in alimony. 2200 dollars a month in tax free income for her. Alimony is not tax free - the recipient pays the taxes on it. The wage earner pays the payroll taxes. The wage earner deducts all alimony from his income when doing his tax return, thereby reducing his taxible income. The recipient has to declare all alimony as income, thereby raising her taxible income. |
#28
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After 13 years, mom gets $66,000 in child support
"Bob Whiteside" wrote in message link.net... "Moon Shyne" wrote in message ... "bleed-22" wrote in message om... Hey Zimm: He was meeting his obligation. He was paying 600 dollars a month plus 1600 in alimony. 2200 dollars a month in tax free income for her. Alimony is not tax free - the recipient pays the taxes on it. The wage earner pays the payroll taxes. The wage earner deducts all alimony from his income when doing his tax return, thereby reducing his taxible income. The recipient has to declare all alimony as income, thereby raising her taxible income. |
#29
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After 13 years, mom gets $66,000 in child support
"Moon Shyne" wrote in message ... "Bob Whiteside" wrote in message link.net... "Moon Shyne" wrote in message ... "bleed-22" wrote in message om... Hey Zimm: He was meeting his obligation. He was paying 600 dollars a month plus 1600 in alimony. 2200 dollars a month in tax free income for her. Alimony is not tax free - the recipient pays the taxes on it. The wage earner pays the payroll taxes. The wage earner deducts all alimony from his income when doing his tax return, thereby reducing his taxible income. The recipient has to declare all alimony as income, thereby raising her taxible income. And the wage earner still pays the FICA and Medicare taxes on the alimony paid. And when the tax deductions and exemptions are subtracted from the taxable income the alimony recipient rarely has to pay much in taxes. The alimony is just one piece of the tax calculation. Alimony is awarded to help the recipient sustain the property settlement items she cannot afford to pay for out of her own income. IOW - Alimony helps the woman preserve her property settlement assets and support their on-going costs. Here's an example for you - When I was divorced my ex was awarded the family home, and with it came the tax deductions for interest and property taxes. After declaring her earned income, plus the alimony I paid, her total taxes paid for Federal and state combined was less than 3% of her gross income before deductions. She paid more for FICA and Medicare taxes on her gross earned income than she did for income taxes on her total income including the alimony. |
#30
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After 13 years, mom gets $66,000 in child support
"Moon Shyne" wrote in message ... "Bob Whiteside" wrote in message link.net... "Moon Shyne" wrote in message ... "bleed-22" wrote in message om... Hey Zimm: He was meeting his obligation. He was paying 600 dollars a month plus 1600 in alimony. 2200 dollars a month in tax free income for her. Alimony is not tax free - the recipient pays the taxes on it. The wage earner pays the payroll taxes. The wage earner deducts all alimony from his income when doing his tax return, thereby reducing his taxible income. The recipient has to declare all alimony as income, thereby raising her taxible income. And the wage earner still pays the FICA and Medicare taxes on the alimony paid. And when the tax deductions and exemptions are subtracted from the taxable income the alimony recipient rarely has to pay much in taxes. The alimony is just one piece of the tax calculation. Alimony is awarded to help the recipient sustain the property settlement items she cannot afford to pay for out of her own income. IOW - Alimony helps the woman preserve her property settlement assets and support their on-going costs. Here's an example for you - When I was divorced my ex was awarded the family home, and with it came the tax deductions for interest and property taxes. After declaring her earned income, plus the alimony I paid, her total taxes paid for Federal and state combined was less than 3% of her gross income before deductions. She paid more for FICA and Medicare taxes on her gross earned income than she did for income taxes on her total income including the alimony. |
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