This is a common question we are asked almost on a weekly basis. The quickest answer is that the financial situation for each family or individual is different. Even the smallest difference can be a game changer.
Calculating child support can be complex and encompasses various factors including income, specific deductions, expenses and the number of overnights exercised by the parents.
Child support is calculated using each party’s modified monthly net income. This is the amount earned minus specific deductions. Not all deductions on your paycheck are included in this formula. Examples of deductions are:
· Taxes
· Insurance premium for parent
· Insurance premium for child
· Mandatory retirement
· Mandatory Union Dues
After the modified monthly net income has been calculated, certain expenses are then credited to each party, if applicable, including day care expenses paid and previous child support order for a different child.
Most attorneys use a software program that incorporates all the factors to run Child Support Guidelines. It is very important to provide all financial documents your attorneys requests so he or she gets a full picture of your financial situation. Once the child support figure is determined, changing it might be difficult. However, child support can be modified if it is proven that a change of circumstances has occurred.
A Child support obligation is not something to run away from, especially in Florida. We recommend consulting with a Florida attorney. Akilah Harris, Esq. is an experienced child support attorney in Pembroke Pines, Florida.
