How do I determine tax deductions for self employment in regards to Child Support Financial Affidavit?

Asked 5 months ago - Leesburg, FL

Self employed (contracted) gross income is $3250 monthly. Married, Head of household, & would typically claim 1. I assume this is needed to calculate net income for purposes of modifying child support monthly obligations.

Attorney answers (2)

  1. Gregg R. Brennan

    Pro

    Contributor Level 12

    Answered . You may want to repost this as a tax law question or talk to a tax attorney or CPA as it falls more in that area than labor/employment law.

    An attorney-client relationship is NOT created by the answering of this question. If you would like to discuss... more
  2. Thomas J. Wagner

    Contributor Level 19

    1

    Lawyer agrees

    1

    Answered . Have you filed a tax return reporting self employment income? What does your schedule C say? Do you use accounting software like QuickBooks? If you use QuickBooks, and properly enter income and business expenses you can generate profit an loss statements for any period. Your income is your gross receipts less the cost of goods sold (if any) and other business expenses which could include rent, utilities insurance, office supplies travel expenses vehicle expenses and any reasonable and necessary business expenses. You should not go into a child support hearing without a lawyer.

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