What would you like to do?
Is child support a pre tax deduction?
Method of making payment makes no difference...check or deduction or whatever. It is not a deductible payment or deduction on return. Paying for your children is done wit…h after tax $s, however, they may be a dependent and provide a deduction that way.
There is a priority level assigned to wage garnishments, which would be governed by state law. Court ordered garnishments would take priority over voluntary deductions or ded…uctions for things like union dues.
No. If you are providing more than one half of the support for the child, you may be entitled to claim them on your tax return.
yes, even if no arrears exist see links below The State should not be taking your tax refund if you are current. (Making the court-ordered payments on an arrearage doesn't …mean you're current). Before the State intercepts a tax refund or other payment, it sends advance notice. If you're current, you need to contest that notice as soon as you receive it.
Unlike alimony, child support is not tax-deductible and the receiving parent does not have to pay taxes on the income. Why? Because child support is designed to replace …the additional resources lost when the parents divorced. If you were still married, you wouldn't be able to deduct the cost of little league uniforms or a new dress for the prom. As a parent it is your responsibility to provide financially for your child, whether he lives with you or not.
Those are amounts taken out of your paycheck that do not reduce the amount of tax you have to pay on your salary.
You probably can't claim a child you're paying child support for period. The IRS rules generally work out that the custodial parent gets to claim the child.
Answer Uh....it's YOUR family...not mine. Supporting your children and family any way you want, is NOT tax deductible to anyone. What you purchase for them …is done with after tax earnings. Whether you pay it to someone, say a nanny or even a mother, yourself, have your employer pay it for you, or are forced to have your employer pay it over for you, the answer is the same. So of course, child support, even if ordered by a court, is NOT tax deductible. Therefore, it is paid (or paid over) from AFTER TAX earnings.
No. method of payment does not change the taxability of the premium.
No, it is neither income nor tax deductible. see link below.
yes i would deduct money to my child.
Maybe, but the answer has nothing to do with paying child support. Generally, when child support is ordered, the agreement also states who has residential custody o…f the child, and often specifies who is to take the child's exemption on income tax returns. If the order specifies who is to get the exemption and when, it is to be followed. The non-custodial parent must attach a completed Form 8332 or certain pages from the decree in order to claim the exemption. If the order is silent on who gets the exemption, only the parent with whom the child lives may use the exemption. However, if the parent with residential custody agrees to do so, s/he may give a completed Form 8332 to the non-custodial parent in order for the latter to take the exemption. Under no circumstances may the parent with whom the child does not live use the child for the purposes of Head of Household status, the Dependent Care Credit, or the Earned Income Credit. That parent may use the child's dependency exemption to reduce taxable income and to qualify for the Child Tax Credit.
It is a term for an amount, whether it be determined by its cost, like a medical expense, or some other method (like a child or dependent person being considered as a specific… amount), that is allowed to offset otherwise taxable income. A Tax Deduction could also be donations: # A church, synagogue, or other religious organization; # A war veterans' organization or its post, auxiliary, trust, or foundation organized in the United States or its possessions; # A nonprofit volunteer fire company; # A civil defense organization created under federal, state, or local law (this includes unreimbursed expenses of civil defense volunteers that are directly connected with and solely attributable to their volunteer services); # A domestic fraternal society , operating under the lodge system, but only if the contribution is to be used exclusively for charitable purposes; # A nonprofit cemetery company if the funds are irrevocably dedicated to the perpetual care of the cemetery as a whole and not a particular lot or mausoleum crypt.
In Income Taxes
No tax credit and no tax deduction on your income tax return for child support payments.
only 1 parent can claim the child. whom ever the child lives with
It depends on how whether your employer gave you the option. If you are buying your policy for maternity purposes you are better served paying after tax. Pre-taxing disability… premiums makes the benefit taxable. Your maternity benefit is likely to be much larger than the premium you pay. It's better to pay taxes on the smaller amount - the premium.