Alimony

Alimony

TO: Mark

FROM: CPA

SUBJECT: Taxation on Alimony Amount

Facts

The memo has been written to address the taxation issues on the Alimony Amount. Mark has received the amount of $10,000 in alimony. Though, the news of non-taxable amount of this alimony was certainly a serious concern for the tax authorities. This amount is a legal obligation for the Lindsey Armstrong that must be paid to Mark. However, it is an income and the tax must be incurred on this amount. The problem with the real estate market of both Mark and Lindsey is another issue. It is important to explain the entire ...