In a couple short months we'll be waiting anxiously for school to let out and the pool to open. But what does this mean for child support?
Income tax deductions and credits for families with children can be substantial and require review of several different sections of the tax code - a daunting task. Few folks enjoy taxes, but to calculate child support correctly, taxes for each parent must be reviewed. Luckly the child support guidelines provide guidance on how to calculate most adjustments. Using eFamilyTools, all these calculations are done instantaneously for you.
Before you use another child support calculator, read this! If you're basing important decisions on the calculations performed by other calculators, you may want to reconsider. Decisions such as dragging your case back into the court room, or reaching an ammicable agreement with the other parent on child support should be based on sound information and calculations. We set out to put a few popular child support calculators to the test. We can conclude that some of the child support calculators out there may leave you with the short end of the stick.
Summer has arrived! For many parents involved in child custody cases, this means adjusting parenting time schedules. Summer parenting time, summer camps, vacations, and other summer activities can mean a change in child support.
The Equal Parenting Time (EPT) formula is one of two ways shared residential parents can calculate child support for their case. The EPT formula was introduced in 2012 as a replacement for the "80/20 Rule," which was in effect from 2008 to 2012. Let's take a look at how the EPT works and how it differs from other calculation methods.