How to Calculate Child Support for Self-Employed People
Indiana law bases child support calculations on parental income. People earning regular salaries have their income data readily available. Self-employed parents, however, tend to have inconsistent pay. Their variable monthly income presents difficulties when a family court calculates child support. If you’re self-employed or the co-parent of your children is self-employed, then a family law attorney Indiana could oversee the accurate disclosure of income to the court.
Assistance from the family law team at Webster & Garino could prevent a court from issuing a child support order that inflicts excessive financial burdens. An Indiana lawyer will advocate for a fair support order that realistically reflects your proper share as required by the state’s child support guidelines.
Determining Self-Employed Income
You’ll need to supply the court with records of your gross receipts and necessary business expenses. Your most current financial statements will present a more accurate picture of your current income than tax returns. Some self-employed people collect rent and royalties in addition to payment for goods or services. This revenue counts as income and must be disclosed during the calculation of child support.
Your monthly self-employed income minus your business expenses produce the income figure that the court will use. People whose jobs pay only in commissions would calculate an average monthly gross income based on the previous 12 months.
If your most recent income records show an unusually high amount of revenue, the advocacy of an Indiana lawyer might be crucial. Our representation might alert the court to the fact that you’re experiencing a seasonal bump in income that inflates your average monthly income over the long term.
In addition to deducting monthly business expenses, a family law attorney Indiana might identify other deductions that you qualify for. We could petition a family court and ask that it recognize your additional financial burdens. These might be medical expenses, the cost of caring for an elderly parent, or travel expenses when you visit your children. A different child support order for other children or deployment for military duty could also justify a reduced amount of child support.
Go to Family Court With Webster & Garino at Your Side
Whether you’re the custodial parent who’ll receive child support or the payor, a trusted Indiana lawyer from our firm will work hard to communicate your needs in court. Our services could prevent a court from issuing an order based on an incomplete or skewed picture of self-employed income. Schedule a consultation by calling us today.