What is considered income for child support computations?
Parents in Florida must share in the continued financial support of their kids after they separate or divorce. Their duties for child support are based on the state’s adoption of the income shares model, which promotes maintaining a child’s level of support at what it would have been if their parents had stayed together. To this end, both of a child’s parents are expected to contribute to their economic needs.
When balancing duties of support, courts look at many sources of income that parents can receive to decide how much each should contribute to the maintenance of their children. Some of those sources of income will be discussed in this post, but readers are reminded not to use this post as legal advice. Help with child support matters can be sought directly from trusted family law lawyers in Lakeland.
Sources of income
The state recognizes a broad definition for income when it comes to child support. While traditional salaries and wages burned out a job are considered income for child support computations, many other sources of income are also included. They are, but are not limited to the following:
- Benefits, such as Social Security or disability
- Royalties and trust income
- Income from rental properties
- Dividends
- Pensions and retirement payments
- Business income, commissions, and bonuses
Additionally, a parent who is found to be willfully unemployed or underemployed may have income imputed on them due to their attempts to avoid paying child support at a higher rate.
Finding a balance for child support
Once a court has evaluated all possible sources of income for both of a child’s parents, it will use established guidelines to decide how much each should have to contribute for the raising and welfare of their child. These computations can be complex and sometimes confusing to individuals. Those who have questions can lean on their trusted family law attorneys for guidance as they negotiate the important topic of child support.
