claiming kids on taxes
Now not everyone agrees on their court order for child support but since my husbands ex could civilly agree on "fair" amount- its pretty fair! I know the kids never go without and with all the family they r actually quite spoiled! Anyway the one thing that gets to me about money is the tax claims. No one mentioned it in court so by default unless custodial parent gives permission she can claim the kids every year...not even kidding you for 4 years straight she worked as a bartender so only claimed minimal(13k) which she even admitted made way more and got 7000 each year. She actually has a real job and can't do that but the fact that she's never let my husband claim them just isn't fair. He pays his part and pay for them when they are over as well. Maybe this is just a vent because there's nothing I can do about it. Maybe someone else can relate?
In a situation where the
In a situation where the parent who makes less does not want to give up the tax savings here is what my accountant suggests:
Since he makes more, father claims the kids. (Since it is a percentage he is going to save more than the mother.)
The mother figures out what her tax savings would have been had she claimed the kids.
The Father pays the mother the amount she would have saved had she claimed the kids. The Father gets to keep whatever is left over. He is not going to get the amount he would have had he claimed the kids - but it will be something.
Of course, this will only work if the parents can communicate.
We do all communicate well
We do all communicate well now but each year there's some excuse why she needs it more -
Doesn't care what's fair.
This year it was because other baby daddy doesn't pay her support anymore.
Ugh.
I agree that the parent
I agree that the parent that's doing all the work (or at least over 50%) should get the benefit. My situation is such that because I'm doing everything for my kids it's nearly impossible to get a second job if necessary to make more money or get ahead. My ex could literally work 3 jobs if he wanted, but his social life is more important.
I don't agree that child support should be taxable income. And anyway, if it were, the schedules would just go up in amount to provide more spendable income for the CP. Intact families don't get tax breaks on money spent on their kids, why should the ncp?
i think who ever pays the CS
i think who ever pays the CS should get the write off, but of course, no court ever will do that.