Commack Child Support Lawyer: Understanding Support and Taxes
Did you know that if you pay spousal support you can write it off as a tax deduction? This leads most people to just assume that you would also be able to write child support off as a tax deduction as well. However, there is a really big difference between spousal support and child support. Spousal support is just about giving your spouse a fighting chance after getting a divorce if they were used to being financially supported by you. Whether you have custody of your child or not you are financially responsible for that child till they turn 18. You are responsible for them for even longer if they are going to college.
A Commack Child Support Lawyer is going to tell you that in order to qualify for child support payments it must be in the divorce or the separation agreement. If the child support is lumped together with other payments such as alimony or family support then the entire payment for all kinds of supports could not be used for tax purposes.
In order for you to claim a child as a dependent, you must be the provider for at least 50 percent of their financial support during the entire tax year. If you are unsure of whether or not you meet those requirements any Commack Child Support Lawyer would be able to help you figure it out. Obviously, it would be very easy to claim a child as a dependent if a couple is married.
When you are separated and divorced with shared custody figuring out who gets to claim the child is a very sticky situation. This is because even if both parents provide 50 percent of the support only one of the parents is legally able to claim the child. It is important for you and the other parent to sit down and discuss this because you can get in a lot of trouble if both parents were to claim the child. The IRS does cross check social security numbers, so there is no way for you to do that without getting caught.
Trying to sort through all of the child custody details and tax details can be confusing and overwhelming. A law firm such as Todd J. Zimmer and Associates would be more than happy to help you sort through the confusion.