How Is Child Support Calculated?
Basic child support is based on a formula. Basically, you take the non-custodial parent’s income, reduce it by FICA (social security taxes and medicare taxes) and then multiply it by a percentage to arrive at the yearly child support obligation of the non-custodial parent. The percentages used as: one child: 17%, two children: 25%, three children: 29%, four children: 31%; five or more children: no less than 35%. As an example, the non-custodial parent earns a gross salary of $65,000 a year and there are two children. The custodial parent earns $30,000 per year. The non-custodial parent’s income of $65,000 is reduced by $4,972.50 for FICA, and for the purpose of child support calculations is $60,027.50. Multiply that by 25% and the yearly child support obligation of the non-custodial parent is $17,407.98, or $1,450.66 per month. The income of the custodial parent does not change that calculation. This calculation is taken into account with all the other financial and child custody issues when negotiating in Divorce Mediation.