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-   -   Anyone here's wife make more money than you? (http://www.cougarguard.com/forum/showthread.php?t=7917)

Archaea 04-25-2007 10:11 PM

Quote:

Originally Posted by SeattleUte (Post 76539)
Now I read your post more closely.

Your information is wrong as to federal taxation. Alimony is taxable to the recipient not the payor. So in a sense, the federal government helps finance expensive divorses, especially if the alimony recipient lives in a house with a big mortgage and and the mortgage deduction knocks out a chunk of income taxes on the alimony. You may be talking about state tax. We don't have that here.

Your original post stated alimony is not deductible.

I stated it is deductible for the payer and charged as income to the recipient, unlike child support which is neither deductible nor chargeable.

We have no state income tax, we don't believe in taxation here, except upon visitors.

Here is your original quote in pertinent part:

"Alimony is not taxable income, it's not even a deduction."

I beg to differ. That is a correct statement for child support not alimony.

SoCalCoug 04-25-2007 10:23 PM

Quote:

Originally Posted by SeattleUte (Post 76509)
My wife makes slightly less than me but net out the alimony I pay and she makes substantially more. Alimony is not taxable income, it's not even a deduction. Waters probably thought that was a jab, but it's not to me. She's also 14 years younger than me, so, yes, she's a superstar.

Alimony is taxable to the receiving spouse and deductible by the payor spouse (as long as it's pursuant to written agreement or order).

Child support is not taxable, nor is it deductible.

I am 100% certain these are the IRS rules. (There are certain exigencies which would make alimony non-deductible, but they are certainly the exception rather than the rule).

Archaea 04-25-2007 10:25 PM

Quote:

Originally Posted by SoCalCoug (Post 76544)
Alimony is taxable to the receiving spouse and deductible by the payor spouse (as long as it's pursuant to written agreement or order).

Child support is not taxable, nor is it deductible.

I am 100% certain these are the IRS rules. (There are certain exigencies which would make alimony non-deductible, but they are certainly the exception rather than the rule).

Lump sum, non-modifiable alimony? I've received two different answers.

Solon 04-25-2007 10:31 PM

Quote:

Originally Posted by MikeWaters (Post 76467)
Throwing this out to everyone. Except SeattleUte whom we already know makes less than his wife.

I read a news report from Japan that a guy committed suicide when his wife started making more money than him.

My wife makes more than double what I make. Granted, I only pulled down 12K last year, but she's in graduate school too.

And she's taller than me.

And she's two years older than me.

I'm the anti-male (but not a female).

BigFatMeanie 04-25-2007 10:47 PM

Quote:

Originally Posted by Solon (Post 76547)
My wife makes more than double what I make. Granted, I only pulled down 12K last year, but she's in graduate school too.

And she's taller than me.

And she's two years older than me.

I'm the anti-male (but not a female).

Dude, I wouldn't mind it if my wife were taller than me. Mrs. Meanie is short. Times I wish she was taller:

- hugging
- kissing
- dancing (both horizontal and vertical)
- any time she asks me to get my lard butt off the couch and come reach something up on a self

BigFatMeanie 04-25-2007 10:51 PM

Mrs. Meanie makes zilch and has since our first child was born. I've asked her if she wants to work part time when the kids are in school. She wasn't enthusiastic about it. Why should she be? She currently gets to spend it without having to make it - who wouldn't want that?

SoCalCoug 04-25-2007 10:57 PM

Quote:

Originally Posted by Archaea (Post 76545)
Lump sum, non-modifiable alimony? I've received two different answers.

A lump sum in lieu of periodic payments, I believe, is not deductible - part of the IRS definition of "alimony" includes a requirement that it be periodic payments.

Archaea 04-25-2007 11:02 PM

Quote:

Originally Posted by SoCalCoug (Post 76557)
A lump sum in lieu of periodic payments, I believe, is not deductible - part of the IRS definition of "alimony" includes a requirement that it be periodic payments.

That's the traditional answer, but a law firm which billed its client ten of thousands for the research came to the opposite conclusion.

FarrahWaters 04-25-2007 11:25 PM

Quote:

Originally Posted by MikeWaters (Post 76467)
I read a news report from Japan that a guy committed suicide when his wife started making more money than him.

And Mike wonders why I don't want to live in Japan. ;)

It probably doesn't count, but I obviously made more money than him while he was in med school. I actually like working. But, a full-time job, all the housework, and all the cooking is too much for me. Working from home part-time (very, very part-time) allows me to still be home with the young kiddos.... and it helps keep me sane.

Archaea 04-25-2007 11:32 PM

Quote:

Originally Posted by BigFatMeanie (Post 76555)
Mrs. Meanie makes zilch and has since our first child was born. I've asked her if she wants to work part time when the kids are in school. She wasn't enthusiastic about it. Why should she be? She currently gets to spend it without having to make it - who wouldn't want that?

My wife must have converted yours. Mine is convinced I will be supporting her, no matter her continued affiliation with me or not.


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