Child Support and Taxes
Because child support and alimony have so many surface-level similarities, many people wrongly assume that they are treated the same way in terms of legal oversight and taxation. However, this is not the case, and tax laws concerning spousal support are markedly different than those concerning child support. Knowing the general differences between the two can be particularly important if you are going through a divorce.
If you or someone you love is considering filing for a divorce and is concerned about the financial ramifications it could have, the San Jose divorce attorneys of the Law Office of Daniel Jensen, P.C., may be able to help. To discuss your case with one of our experienced legal professionals, please contact us today by calling 408-296-4100.
How Child Support Is Taxed
While alimony is considered taxable income, child support is not. Generally speaking, for tax purposes, child support is defined by the following:
- Child support is not taxable income for the paying spouse.
- Child support is not tax deductible for the receiving spouse.
Support payments are vitally important to the well-being of your children, and if you have any questions about the tax ramifications of these payments, it may be beneficial to discuss your situation and needs with an experienced family attorney.
Contact Us
If you or someone you love is going through a divorce and is in need of legal representation, the San Jose divorce attorneys of the Law Office of Daniel Jensen, P.C., may be able to help. To learn more about our services, contact us today by calling 408-296-4100.
