If you are a parent in Florida who is thinking about getting a divorce, then you may wonder how much child support you will end up owing. The state publishes a schedule found in Florida Statue 61,30 to help you know how much you can expect to pay. The law requires this amount. Courts can order a 5 % increase or a 5 % decrease in the amount unless the judge writes a statement outlining why this amount is not correct in your case.
The first step that you need to do to calculate your child support payment is to know your net income. For most people, this is an easy figure to learn because it is on your income tax return. The court assumes that you will spend a certain amount on raising your child or children based on your income. The court believes that you will be working full time. If you have chosen to work only part-time or not at all to avoid paying child support, then they can demand that you pay support like you were working full time. This figure includes your salary, bonuses, federal benefits, interest, dividends, and almost any other type of income.
The court system can subtract several different things that you pay for from your net income before setting the child support amount. For example, taxes, including self-employment taxes, are deducted. If you are forced to pay union dues or contribute to a retirement account, then you can subtract these amounts. You can also subtract the cost of health insurance for any family member, but your children. If you have been paying spousal support, then you can also deduct that amount. You and your spouse will both have to submit financial affidavits to the court.
When you and your spouse have both determined your income, add the figures together. Use the schedule to find out how much child support the system expects you to pay. Then, take your spouse’s net income and divide it by the total amount. The difference between that answer and the total is the amount of child support you can expect to pay.
After you have arrived at the base fee, then you start adding in all the other expenses that are typical when raising a child, like childcare, school tuition, activity fees, and health care. Then, the costs of these things are divided based on the parent’s income. Sometimes, it is more advantageous for one parent to cover certain expenses than the other. For example, one parent may be given family health insurance by their employer while another works at a company with free childcare. Parents can talk about the arrangements, but final approval is left to the courts.
You need to contact a family law practice in Orlando to make sure that you are getting the right child support amount. Call Frank Family Law to be your family law practice in Orlando.