Often, a point of contention in a Wheat Ridge, Arvada, and Lakewood co-parenting situation is child support. One parent feels they are paying too much or another feels they are not getting enough money to support the children. How does the state of Colorado decided how much child support should be paid? The answer is based on two factors – income and expenses. Basically, a Jefferson County Court judge will look at the incomes of both parents along with general expenses of the child to come up with the amount. The parent with the lesser amount of custody has to pay a percentage of this amount based on their income.
How Does the Jefferson County Court Define Income in Regards to Child Support?
When going through a divorce or child support proceedings, it is your responsibility to report all sources of income. Let’s look at the different sources of income that you must report:
- Salary (including tips)
- Alimony
- Interest
- Rent received as a landlord
- Bonuses
- Workers’ Compensation Benefits
- Overtime Wages
- Trust Income
- Commissions
- Prize Money (except for lottery winnings)
- Social Security Benefits
- Unemployment Benefits
- Pensions
- Payments Received from/as an Independent Contractor
- Reimbursement for Expenses
- Monetary Gifts
- Income from Self-Employment
- Capital Gains
- Annuities
- Severance Pay
- Dividends
It’s not just as easy as handing over a copy of your paycheck stub and moving on. There are many other forms of income that must be reported.
Westminster Child Support Lawyer: If I Make More, Do I Have to Pay More?
People with higher salaries sometimes worry that because they make more money, they are going to have to pay more for child support. That is not necessarily the case. Child support is also determined by how much it costs to care for the child. Then, you are only responsible for paying the percentage you would be paying if you and your child’s other parent were still raising the child together. If, after an order is entered, something changes in your income, the amount of parenting time you get, or the cost of caring for your child, you can submit a request to review the child support order. If a motion to modify child support is granted, the amount of child support a parent is required to pay can be raised or lowered.
If you have questions about child support, contact the best Wheat Ridge family law attorneys from the Pearman Law Firm for a phone consultation at 303-991-7600 today.
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