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Marc Anthony pays ex-wife alimony and child support monthly

Some divorces result in one spouse paying child support to the parent with primary custody. Other divorce settlements declare that alimony payments will be paid from one spouse to his or her former spouse. Grammy-winning singer Marc Anthony pays his former wife and the mother of his two sons both child support and alimony.

According to a report, Anthony pays his ex-wife $3,500 of alimony each month in addition to $6,500 child support payments for each son. In total, he sends $16,500 to his former wife monthly. The couple was married for four years, but Anthony has been making payments for much longer than that. He will continue making these payments for the foreseeable future.

A spouse may make alimony and child support payments to his or her former spouse for many years. Given the large amount of money that could be paid over the years in alimony and child support payments, making sure the payments are calculated accurately is very important.

Besides the immediate effects of paying alimony, there are additional reasons it is important for these payments to be calculated accurately. For instance, differing tax laws apply to the spouse who pays alimony and the spouse who receives alimony. For the spouse who pays alimony, the payments are tax deductible. Conversely, the spouse who receives the alimony payments can be taxed on the money.

As alimony payments are tax deductible for the payor, the spouse who makes child support payments will want to ensure the payments are calculated accurately and are reported correctly when filing taxes. Doing so could help a person avoid unwanted hassles in the future.

Source: Examiner, "Singer Marc Anthony's alimony to ex-wife and child support funds released," Ruthy Ferrera, Nov. 18, 2012

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