How does child support work when you are self-employed?
I am not licensed to practice in your state and cannot provide you legal advice. However, I can give general tips regarding your situation based on the jurisdiction where I practice.
Typically, the amount of child support owed is based on a child support calculation which takes into account several different factors, including, but not limited to, the number of children at issues, the gross monthly income of the parties, the number of overnights each parent has with the child, and other financial factors including the amount of monthly daycare expenses, if any, and the amount paid for the child’s portion of the health insurance premium.
State law typically sets forth what income can be considered for purposes of child support payments. In Oklahoma, where I am licensed to practice, all income derived from any source is considered for purposes of child support with very limited exceptions. In instances where a party is an employee, his or her gross income is commonly proven in the form of tax returns and/or pay stubs.
However, individuals who are self-employed or who work as contract labor can prove income in the form of tax returns, pay checks, or bank account statements.
To arrange an initial consultation to discuss divorce rights for men with a Cordell & Cordell attorney, including Oklahoma divorce lawyer Colby Pearce, contact Cordell & Cordell.