One of the most challenging parts of negotiating the correct amount of child support is determining a parent’s actual income. For example, when a parent is self-employed, they may receive business perks that need to be calculated into the personal income. In more complicated cases, we may suggest retaining a forensic accountant to help determine a parent’s actual income.
How it works: Under New York law, parents are obligated to support their children until the age of 21. The Child Support Standards Act provides a formula that determines the amount of basic child support that a non-custodial parent is obligated to pay to the custodial parent. However, in many instances, parents decide it makes more financial sense to deviate from the formula. This can be because they are sharing custody of the children equally, or because of other circumstances. Additionally, education, medical expenses, child care and extracurricular expenses are shared in proportion to parents’ incomes.
At Vacca Family Law Group, we know that every family is unique. We help find the right formula for your family. To discuss child support and reach a positive solution, contact us today.