Tuesday, May 6, 2014

WISCONSIN Part 48

Income

In Wisconsin, child support payments are based on the income of the paying parent. If you think you won’t have to pay because you don’t have a job, think again. For child support purposes, income is all earnings from all sources. It does not matter whether the type of income can be taxed; both taxable (say, your salary) and non-taxable amounts (your 401k, for example) count toward total income. The only difference is that you can deduct taxes first. In other words, if your salary is $30,000 a year, but you take home $25,000 after taxes, then $25,000 is the number to use for calculating child support.

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