Historically, spousal maintenance, (aka alimony) was tax-deductible for the paying spouse and taxable income for the receiving spouse. The tax overhaul resulting from the Tax Cuts and Jobs Act changed things such that, effective January 1, 2019, spousal maintenance in Colorado will not be a deduction for the paying spouse, nor will the recipient spouse be taxed. The new law does not affect any divorce agreement executed prior to December 31, 2018.
To learn more about the 2019 changes to spousal maintenance law, including the residual effect for tax implications, child custody modification, or any Family Law related matter, please contact one of our family law attorneys.
Every family has a different dynamic, and we appreciate how complex the decision-making process is. When you hire Elkus & Sisson, P.C. to handle your child custody case, we will provide you with the individualized guidance and advice you need to make decisions with confidence. Common issues our Denver child custody attorneys can help with include: Legal and physical custody of minor children; visitation and parenting time; child support; and, visitation.