What is considered income for child support purposes in NJ?
In New Jersey, when parent’s combined net yearly income exceeds $187,200.00 the Court will apply the child support guidelines up to said amount and supplement the guideline-based award with a discretionary amount considering the parents income that exceeds $187,200.00 per year and the factors listed in N.J.S.A.
Does child support consider both parents income?
For the purposes of calculating child support, each parent has a Child Support Income. It is your taxable income minus the Self-Support Amount minus the costs of any dependents. Child Support Income quantifies your capacity to maintain children financially.
Is child support considered income in New Jersey?
Child Support Received. If you received child support, it is not taxable. Do not report this income on the NJ-1040; • Child Support Paid. If you pay child support, we do not allow a deduction for these payments.
Is spouse income considered in child support in NJ?
Even though the New Jersey guidelines make it clear that a new spouse’s income isn’t considered your own income when calculating child support, it is still relevant to the decision. When setting child support, courts must consider the paying parent’s ability to cover his or her own household expenses.
What is included in child support in NJ?
Under the Guidelines, the child support award covers fixed costs, including shelter and shelter-related costs; variable costs, including the cost of transportation and food for the child; and controlled costs, such as clothing, personal care, entertainment, and other miscellaneous expenses.
Is child support mandatory in NJ?
Child support laws in New Jersey Irrespective of the custody arrangement, under New Jersey law, both parents have the obligation to provide financial support for their child until the child is emancipated. The law in New Jersey further provides that children are entitled to share in the current income of both parents.
Do you have to report child support on taxes?
The short answer is generally NO – Child support is not a taxable income and so you are not required to pay tax on any child support payments you have received.
What is not included in child support in NJ?
Such costs may include the cost of private education, certain extracurricular activity costs, and the expense of special celebrations, such as a bar/bat mitzvah celebration or a “Sweet Sixteen” party. College tuition and related expenses also are not added into the child support obligation and are addressed separately.
How is child support calculated in New Jersey?
Calculating child support for each individual case in New Jersey requires starting with a basic child support allocation amount. This base child support amount takes into account how much of the total income each parent earns, and then making adjustments for other factors such as the amount of time the child spends with each parent.
What expenses does child support cover in New Jersey?
The New Jersey child support guidelines state that child support payments cover the costs of the following entertainment-related expenses: fees, memberships, admissions to sports, recreational or social events, televisions, mobile devices, sound equipment, pets, hobbies, toys,…
How long do I have to pay child support in NJ?
In New Jersey, child support obligations normally last until the child turns 18 years old, but can continue up past that age if the child is still in high school or has certain physical or mental conditions that require extra support.
Can I pay child support directly to my child NJ?
If the un-emancipated child is of legal age, meaning 18 years or older, and if the court finds that they are capable of managing and responsibly using the money given to them for the intended purpose, then the non-custodial parent may be permitted to pay part of the child support directly to the child rather than their ex-spouse. However, if the court approves of this, then the child is conditioned to show receipts or any proof of where the money was spent to both the parents.