The State of Florida publishes a mandate with the amount. It is Florida Statue 61,30 and courts can order a 5% increase or 5% decrease in your case. There are special exceptions to this, but the judge in your case has to write out a reason why the amount is different for your specific case.
The very first thing you need to figure your amount is your total net income. For most people, this is an easy number to know because it is on your income tax return. If you are working only part time by choice, the court will use all forms of income to establish your amount. This figure includes regular salary, bonuses, federal benefits, interest, dividends, basically any and all forms of money that are sent to you.
There are certain items you can deduct form your net income. Any type of special tax, say self-employment tax, union dues, forced retirement payments, or if you are paying insurance on any other member of your family, these all can be deducted from the total net income.
If both of you work, then this is factored into the equation. The formula on the Statute mentioned above will instruct you on how to come up with the correct estimated number. Factors such as majority custody will play a role as well.
Dividing Other Expenses
Once you have figured the base child custody you can now decide how you will handle other financial responsibilities regarding the child. One parent may be able to secure insurance for the child from their employer at little or no extra charge. Child day care and activities should be divided as well.
It is in your attorney’s best interest to see that you are paying the correct amount of child support. This is why hiring an experience family attorney for these matters is important. If you are in the Brevard County, Florida area, feel free to contact us today.