What can be deducted from child support so that I am not destitute

[Rustyknife]

What is the name of your state? I am in California and gained my Journeyman license last year. I was with a company that was paying me well. Now I am working for a company that is paying me enough but what payments can i deduct from my income so that its not accounted for net income? I have seen enough internet pages and law website information that states nothing can be deducted but I am paying for tax debt, retirement package, and life insurance policy. I just want to do whats right for my money and future.

 

[Taxing Matters]

If your income has dropped significantly with the new job then you may want to seek a modification of the child support order to have it adjusted for your current income. It's probably worth talking to a family law attorney about.

 

[LdiJ]

What is the name of your state? I am in California and gained my Journeyman license last year. I was with a company that was paying me well. Now I am working for a company that is paying me enough but what payments can i deduct from my income so that its not accounted for net income? I have seen enough internet pages and law website information that states nothing can be deducted but I am paying for tax debt, retirement package, and life insurance policy. I just want to do whats right for my money and future.

If you are an employee, there is nothing that you can deduct from your income in that regards. There are tax deductions available for various things but nothing that has anything to do with your job. Retirement packages and life insurance are usually pre-tax contributions anyway (and/or employer paid) so a tax deduction would not be appropriate as that would be a double dip.

 

[stealth2]

What is the name of your state? I am in California and gained my Journeyman license last year. I was with a company that was paying me well. Now I am working for a company that is paying me enough but what payments can i deduct from my income so that its not accounted for net income? I have seen enough internet pages and law website information that states nothing can be deducted but I am paying for tax debt, retirement package, and life insurance policy. I just want to do whats right for my money and future.

At the end of the day, there is a reason why most states don't allow one to use deductions to reduce child support. What about doing what's right for your child(ren) and their future?

 

[cbg]

Retirement packages and life insurance are usually pre-tax contributions anyway (and/or employer paid)

That was true until a few years ago (at least for retirement plans) but it's less true than it used to be. Many employers are offering Roth options for their 401(k) or 403(b), and it's always been a toss-up as to whether life insurance was pre-tax or post tax. There is a dollar figure limit for employer-paid, tax free life insurance; anything above that limit can still be employer paid but there has to be imputed income. My employer offers both employer and employee paid life insurance (employer paid is mandatory; employee paid is optional; it's post-tax if you opt in) and the same for retirement plans; you cannot opt out of the employer-paid benefit but you can the employee-paid, and if you opt for the employee deductions you can go traditional pre-tax or Roth post-tax, or a combination of both.

 

[adjusterjack]

I read the OP's post differently. Not that he's looking for a tax deduction but more like he was looking to reduce his income by using additional expenses in his child support calculations.

Even if that was useful he would still have to go to court (as TM notes) to seek a reduction in child support payments.

 

[stealth2]

I read the OP's post differently. Not that he's looking for a tax deduction but more like he was looking to reduce his income by using additional expenses in his child support calculations.

Even if that was useful he would still have to go to court (as TM notes) to seek a reduction in child support payments.

That's how I read it, too.

 

[Zigner]

Why did you change employers?

 

[stealth2]

Why did you change employers?

And how much less do they pay you?

 

[Rustyknife]

they dont pay me less. about $3 more but maybe I can change companies and they can hold my benefits package on the pretax factor or something alike.

 

[stealth2]

they dont pay me less. about $3 more but maybe I can change companies and they can hold my benefits package on the pretax factor or something alike.

Won't help you.

 

[Rustyknife]

thanks. i gathered once i found out that i am screwed either way.

 

[stealth2]

thanks. i gathered once i found out that i am screwed either way.

LOL Nope - you're paying for the pleasure you received when you conceived a child. The only one you hurt by your actions is said child. Hopefully, you are at least man enough to actually be a father in both word and deed.

 

[AlmostThere]

thanks. i gathered once i found out that i am screwed either way.

What makes you say that? Your child support scales with your income, so you should have more income with a $3/hour raise. If you do not, then your other deductions are higher. It's quite possible to change employers, move to a job with a higher pay level, and come home with less money if they charge more for health insurance, LTD/ STD insurance, etc.

Your child needs to be supported - and if you were the custodial parent your child would benefit from a pay increase as more money would be spent to support your child. Why should that be different when you as a non-custodial parent receives a pay increase?

 

[Eekamouse]

It's obvious that he doesn't want to pay anything for his child's support. SMH