No. Although child support is supposed to be for the benefit of the children, you do not have to keep the money you receive from your ex in a separate account, nor do you have to account for how the money is spent.
Yes. Spousal support is considered taxable income for the payee, and therefore is tax deductible for the payer. Child support, however, is not considered to be income and is therefore not taxed, nor is it tax deductible.
Free Initial Consultation
1115 Taylor Ave NW, Suite 110 Grand Rapids, MI 49503
© 2016 -