Many parents who undergo divorce or separation often have to deal with situations that involve many unclear issues. One of these relates to child support and who has to pay for it. Many times, it is the father who is mandated to pay for child support. The other question that the parents ask themselves is whether child support is taxable. Our Tacoma Divorce Attorney will give you all the assistance that you will need to understand the issues surrounding child support that you will be required to pay after you separate from your spouse.
Child support is crucial as it is useful in raising your child even if you do not live under the same roof. It is used for the provision of basic needs of the children such as shelter, food clothing, transportation needs and education expenses. Even if you are facing an ugly court battle that is often the case with numerous divorce cases, you will have to be supportive when it comes to the raising of your children.
Can the money be taxed?
Is child support taxable? The simple answer is No. Child support is not taxable, and if you are a partner who was looking to catch a lucky break, you can be disappointed. On the other hand, if you are the one receiving the payment and the other partner wants to send less child support finances citing tax issues, you need to understand that the IRS does not tax child support funds.
This is because child support is not classified as an income source and therefore, should not taxable. Our lawyers at the firm will work to ensure that the money you receive for the upkeep of your children is tax-exempt and the only income that may be taxed may be alimony paid.
Child support in literal terms is money that is used for personal expenses by your children. For instance, when you are buying shoes for your children, the IRS does not come to charge a tax on the money you have used.
Why do you need a divorce attorney in your child support case?
The laws surrounding the issue on alimony and child support can be complicated and confusing, therefore necessitating the need for an experienced lawyer to handle your case. You do not have to worry whether or not the child support is taxable, as we will help you understand the laws on the issue and educate you on the best way to approach your case.
Our divorce lawyers work closely with you, whether you are the one paying for the child support or receiving the payment. We have experience in handling divorce cases and ensure that our clients receive fair representation in any settlement cases. We are also well resourced to represent you vigorously if the case needs to be settled in court.
Contact our firm to get the best legal representation.
If you have a pending divorce case against your former spouse regarding child support payments, you can call our offices and book an appointment. Our lawyers are always ready to offer you the best assistance that you require to ensure that your children receive their upkeep money to continue living comfortable lives after the separation.