The IRS has extensive rules on how IRAs must be structured and specific guidelines on how spousal IRA strategies can be deployed. According to the IRS, the amount of your combined contributions cannot be more than the taxable compensation reported on your joint return. See the formula in IRS P...
The payment cannot constitute child support. Source:Internal Revenue Service –http://www.irs.gov/taxtopics/tc452.html More Nitty Gritty Details of Michigan Alimony law Alimony guidelines in Michigan Michigan Child Custody, Child Support and Parenting Time (Visitation) video ...
I have a question regarding the affidavit of support. You mentioned it has to be in a US based income (reported in his taxes). In our case, he didn’t file taxes before as his income in Canada is non-taxable (scholarships). This non-taxable income is high...