Child Support and Finances
Whether you are a child's caregiver or a non-custodial parent, child support involves a number of important financial considerations. How much is a fair amount of money to pay for a child's upbringing? What about the custodial parent's income or ability to pay? What costs go into the child support calculation - and which ones don't? Findlaw's Child Support and Finances section explores how child support relates to other areas of financial life, such as income taxes and personal bankruptcy. It also offers information on child support and uninsured medical costs, child support modification in response to significant changes in income and more.
- Child Support and Bankruptcy FAQ
Answers to frequently asked questions about the impact of a parent’s bankruptcy on child support orders, including its affect on unpaid back payments and bankruptcy discharge rules.
- Child Support and Taxes FAQ
Answers to frequently asked questions pertaining to taxes and how they are impacted by child support, such as the difference among state laws; claiming a child as a dependant; and more.
- Child Support and Taxes: Non-Custodial Parents FAQ
Answers to frequently asked questions about the federal income tax implications of child support for non-custodial parents; including which forms to use and eligibility for the Earned Income Credit.
- The Child Tax Credit
In-depth information about the Child Tax Credit, available through the IRS, which allows the parent claiming a child as a dependent to take a tax deduction for that child.
- Uninsured Medical Expenses and Child Support
Basic information about non-custodial parents’ responsibility for helping custodial parents pay for uninsured medical expenses as a component of child support, including the difference among state laws and procedures.
- Exemptions for Dependents (IRS)
Online publication from the Internal Revenue Service detailing the application of tax exemptions for dependents, including the determination of dependant status for unmarried parents and the meaning of “qualifying child.”