The Tax Cuts Jobs Act rips the alimony deduction out from under some and very much endangers it for others. And, there’s a whole lot more to it than before. Nothing can be taken for granted by the planner or tax preparer. One must know what to look for and move intelligently forward.
No more deduction for divorce or separation instruments executed after 2018. But, what does “executed” mean anyway? How prior negotiated alimony might be dragged into the soup. How pre- and post-nups might be drowning in the soup. How not to get the soup knocked out of you economically. With dependency exemptions gone, what is the new playing field? How property settlements ring so differently than before. Do old agreements deserve a new look? Oh, how they might. How the fruit basket has been upset and fruit is flying everywhere. Don’t leave home without knowing how to not get your head handed to you.
Accountants, lawyers and other interested persons desiring to properly plan and comply with the dramatically changed playing field for divorce and separation after TCJA
To learn the wholly new playing field for divorce planning in general. To learn the tax compliance challenges which face every tax preparer with divorced, separated or divorcing clients.
Bradley P. Burnett is a tax accountant and attorney with an emphasis on tax planning and tax controversy. Prior to establishing a law firm in 1990, Burnett worked as a tax senior for a national CPA firm, tax manager for a local CPA firm, trust officer for a major bank, and managed the tax department as a partner in a medium-sized Denver law firm.
Burnett has delivered more than 650 presentations on tax law and tax planning to CPAs, attorneys, and civic groups throughout 46 states, Washington, D.C., and British Columbia. He has authored the texts of 12 full-day CLB/CPE courses, authored tax materials for Commerce Clearing House, and written various articles for tax journals and legal journals in the past 14 years.
After receiving his undergraduate degree in accounting and law degree, he earned a master’s in taxation from the University of Denver in 1984. Burnett has served as an adjunct professor at the University of Denver Graduate Tax Program.
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