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Tag: Tax Reform Act

New Tax Rules Make 2018 “The Year of the Divorce”

New Tax Rules Make 2018 The Year of the Divorce by Gary Shaffer{4 minutes to read}  Breakin’ up is not just hard to do—it’s often expensive. But for the past 75 years or so, alimony has been deductible for the payor and income to the payee. This often helped soften the economic fallout of divorce by allowing the higher-earning spouse to pay alimony to the lower-earning spouse so the “family” could reduce its overall tax burden. Since child support is neither income nor deductible, couples often agreed to allocate more money to alimony and less to child support to increase the overall pot available to the family post divorce.

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An honors graduate of Harvard University and the Cardozo Law School of Yeshiva University, where he also served on the Law Review, Gary brings more than 30 years of litigation and negotiation experience to his practice as a mediator. He has successfully negotiated and mediated resolutions in family matters, employment cases, commercial disputes, personal injury cases, and major civil rights matters.

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