Entries by Lesa Grillo

Alimony Payment Deduction No Longer Allowed Under the Tax Cuts and Jobs Act

If you’re currently divorced or are in the process of dissolving your marriage, understanding how the Tax Cuts and Jobs Act (TCJA) has changed the tax treatment of alimony for both the payor and the recipient is important.  While an alimony payment deduction had previously been granted to the spouse making the payments, the TCJA […]

Tax Document Retention Guidelines: To Save Or Shred?

*Updated 5/1/2019 While it’s a good idea to save certain tax documents once your tax returns have been filed, if your filing cabinet is overflowing with years’ worth of tax returns, receipts, canceled checks, bank and brokerage statements, and other financial records, there are certain items you can likely safely destroy. The following tax document […]