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If child lives with higher income parent who claims on taxes every year?
The parent who is considered the custodial parent.
How will you entry income from subsidiary in income statement?
When there is a parent child relation available then consolidated income statement is prepared in which expenses and income of parent and subsidiary are shown in one single financial statement due to which net profit or loss for whole organization is shown.
Where to enter child's w2 income?
On the child's Form 1040, 1040A, or 1040EZ. A separate tax return must be filed by the child (or for the child if the child is too young). A parent cannot report a child's W-2 income on the parent's tax return. The only time a parent can report a child's income on the parent's return is if the kiddie tax applies and the child's only source of income is interest and dividends.
Can a service member in the Navy claim their parent as a dependent?
Of course, if they can prove that the parent is dependent on them for a source of income.
What is the yearly income of people without a high school diploma?
you usually earn less than what ppl with a high school diploma do. you usually earn less than what ppl with a high school diploma do. you usually earn less than what ppl with a high school diploma do.
Which parent gets to claim the child on income taxes?
Either
Do they take the mother's income into factor when deciding how much the father has to pay?
Generally no. Parents are jointly liable for their children - i.e., one parent's income doesn't excuse the other parent.
In 2005 the median income for workers who dropped out of school after the eighth grade was 20.321 How much more was the median income of workers with a high school diploma.?
$6,000
Is your new spouse's income used to calculate child support if you have children together also in nc?
The basic child support obligation is determined using a schedule, based on the parents' gross income. Gross income means a parent's actual income from any source, except benefits received from public assistance programs. Except as otherwise provided, income does not include the income of a person who isn't the child's parent, regardless of whether that person is married to or lives with the child's parent.
Is the spouse of a noncustodial parents income relevant in Virginia?
In Virginia, the income of a spouse of a noncustodial parent can be relevant in determining child support obligations. While the primary focus is on the noncustodial parent's income, the court may consider the spouse's income if it affects the noncustodial parent's ability to pay support. However, the spouse's income is not directly considered for calculating child support amounts; rather, it may be factored into the overall financial picture. Ultimately, the court has discretion in how much weight to give this income.
Does the custodial parent have the right to quit job for more support?
In general, support is a percentage of the obligor's net income and is not affected by the custodial parent's income. A custodial parent who petitions for an increase in support would presumably have to explain to the court why s/he quit working.
In 2005 the median income for workers who dropped out of school after the eighth grade was 20321 How much more was the median income of workers with a high school diploma?
6 thou
