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Information
Child Support Calculators
Submitted: 2007-01-17 16:21:53
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Child support payments are now required by federal law to be set according to a guideline. These guidelines prevent the amount of child support being ordered in different courtrooms to differ greatly from each other. Most states have established formulas to be used in order to objectively determine the amount of support a non-custodial parent would pay a custodial parent.
Child Support Formula
The formula in determining the amount to be paid for support is based on the net incomes of both parents. In order to get the net income, mandatory expenses such as income taxes, Social Security and Medicare tax, union dues, and health insurance dues are subtracted from a parent’s gross income or the amount of income from wages and investments.
Aside from net income, there are also different factors considered in determining child support, such as the time spent with the child and the number of children between the parents. Special circumstances are also factored into the formula. These include extraordinary medical expenses, travel expenses for child visitation, special education needs, and uninsured losses.
Calculators
Calculations for child support are an important part of settlements after a divorce or separation. Using child support calculators allows couples to determine the appropriate amount to settle the issue of child support amicably.
Each state has a specific formula for child support calculations. There are Web sites that offer child support calculators you can use to come up with estimates of the amount of child support required based on the information that you enter and on the particular guidelines used in your state. These calculators provide you with a step-by-step procedure for determining the amount and at the same time provide you with monthly reports regarding arrears on payments.
It is still advisable, however, to consult with a licensed attorney regarding the child support calculations because the results of most calculators online are usually intended for situations wherein there is sole custody of the child (joint physical custody or split custody is not assumed) and are therefore only estimates that would most likely be different from the amount ordered by the court.
Child Support provides detailed information on Child Support, Child Support Calculators, Child Support Enforcement, Child Support Laws and more. Child Support is affiliated with Christian Child Sponsorship.
Article source: Expert Articles
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