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Alimony is No Longer A Tax Deduction

Alimony

The Tax Cuts and Job Act (TJCA) Eliminates the Alimony Tax Deduction in New Jersey and Nationally On January 1, 2019, alimony became tax-neutral under the new rules of the Tax Cuts and Job Act (TCJA). Payors cannot deduct payments of alimony from their taxable income and recipients of alimony do not have to claim […]

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