I currently pay child support to my ex-wife who was awarded primary child custody.
I would like to start up my own business and was wondering if any of the revenue generated from this business could be used in calculating child support?
Since I am only licensed to practice law in Texas I cannot provide you legal advice on divorce, but I can provide you with some divorce tips for men on how Texas’ child support laws work.
In Texas, when calculating child support the court will consider the income you make and base the child support off of a percentage of your net resources.
If you are self-employed, such as owning your own business, it is more difficult to determine your net resources, due to the fact that you likely have business expenses and federal taxes which are not automatically taken out. As such, you must prove your income to the court and prove the business expenses.
If you do not pay your child support, under Texas law a child-support lien can be secured and it will attach to all real and personal property that is (1) owned by you and (2) not exempt under law.
It will likely depend on how the business you plan to start is formed, but if it is in your name and is not its own entity, such as a corporation, and if you do not pay child support, a lien could possibly be attached to your business assets.
Since I do not know the specifics of your situation, I cannot advise you on how to best protect yourself in this current situation. Please be advised that my answering of this question does not constitute an attorney-client relationship. Consult with a mens divorce attorney in your area.
To schedule an appointment with a Cordell & Cordell attorney, including Jennifer Hankinson, an attorney in the Dallas, Texas, office of Cordell & Cordell, please contact Cordell & Cordell.
3 comments on “Does Child Support Count Revenue From Your Business?”
I currently pay child support and I want to open my business soon.
how can I own a business without them finding out its my business?
should my name be on the lease ?
should I not say it’s my shop ?
should I put the business under my brothers name ?
I wondering the same thing, i pay $1800 a month in Child support in Texas and i’m about 4 months from starting my own metalshop in Texas. We are a small team of men of four and I am the main investor. Say if we generate 500K a month in sales would i have pay 30% of that in CS? Like i do now from my job?
I wondering the same thing, i pay $1800 a month in Child support in Texas and i’m about 4 months from starting my own metalshop in Texas. We are a small team of men of four and I am the main investor. Say if generate 500K a month in sales would i have pay 30% of that in CS? Like i do now from my job?