Johnson, Agen, Kupferschmidt & Associates

Tax Tips

July 2009

ARE ALIMONY AND CHILD SUPPORT TAXABLE?

Alimony, separate maintenance, and similar payments from your spouse or former spouse are taxable to you in the year received. A payment to or for a spouse or former spouse under a divorce or separation instrument is alimony. There are may other conditions which will be discussed with you.

Child Support: No, child support payments are neither deductible by the payer nor taxable to the payee. When you total your gross income to see if you are required to file a tax return, do not include child support payments
received.

OFFICE OPEN IN RICE LAKE AUGUST 1
We are proud to announce the opening of our new Rice Lake office on August 1. Located at 1203 W. Knapp St., we will offer the same full-service accounting and tax service as our Cumberland and Barron locations.

ENROLLED AGENTS
We are proud to be your local Enrolled Agent. EAs (Enrolled Agents) are the only tax professionals tested by IRS on their knowledge of tax law and regulations and are licensed by the U.S. Department of the Treasury to represent taxpayers before all administrative levels of the IRS.