Determining what child support will or should be is usually a simple process.
1
Determine How Much Money They Make on Average Each Month
The Texas Family Code guidelines are used when the parent paying child support makes up to $7,500.00 per month, after taxes are withheld, which is called the parent’s ‘net resources’. Most other payroll deductions are not allowed in the calculation. Salary, commissions, bonuses, interest and dividend income are all included. If someone is self-employed, you need to determine and include all the 'perks' he/she has their business pay for them [like credit cards, car payments, etc.] in the total. Look at the W-2 forms, payroll statements; do not just take the 'net income' from a tax return.
2
Take Out the Taxes, Apply the Percentages
Child support is based on income after taxes. Take the yearly income and deduct federal taxes. Then, divide by 12 months to come to a net monthly income figure. Now multiply this by: 20% for 1 child, 25% for 2, 30% for 3, 35% for 4, 40% for 5, and at least 40% for 6 or more children. Note: other deductions that should be taken out before applying these percentages include the monthly cost to provide health insurance for the children and untion dues.
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