Respond to the following: 1. States handle property division differently, particularly with respect to property that was
Question:
Respond to the following:
1. States handle property division differently, particularly with respect to property that was brought into the marriage and property that was gifted or devised to one of the spouses during the marriage. See, for example, the Funk case in Montana listed in the Resources section in Moodle. Tell the class what your state's rule is regarding property division and how it handles the distribution of such property between spouses. How does that compare to the way other states handle that issue? Which state(s) have the better way of handling such issues in your opinion and why?
2. Use the Resource (US Code) below and discuss the following:
Why should alimony be deductible to the person paying it while the person receiving it pays income tax on it? Should the tax code get involved in these marital/divorce issues? Why or why not? Doesn't this just complicate an already impossible-to-understand tax code? Does it simply create more business for lawyers and accountants? If you were elected to Congress, would you try to change any part of the tax code relating to alimony, child support, or property distribution and why?
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young