One facet of divorce that couples with children in Ohio often have to face is how each parent will fulfill his or her responsibility to financially support them. Child support is something that is determined by the courts. Its formula considers both the father’s and mother’s income and has deductions and exemptions, much like income taxes. Support payments are used to cover extracurricular expenses, costs associated with medical needs and other financial obligations associated with raising children.
A Columbus man who was ordered to make support payments for his children of $2,200 a month recently requested a child support modification. At the time the support payments were calculated in 2006, the man reported an annual income of $120,000 annually. Since then, however, the recession has forced his salary down to $75,000 annually. Because of the significant $45,000 decrease in annual income, the man sought to decrease the amount of support payments.
The Ohio Supreme Court, however, determined that the man should continue to make support payments of the originally calculated amount. They referred to the existence of fringe benefits that the man receives from his employer, such as insurance, a company vehicle and cell phone. Justices determined that benefits like these should be considered income whether a person is self-employed, is a business owner or works for an employer.
There are a number of costs associated with raising a child. The courts determine the amount that divorcing parents are financially responsible for. When a person has questions related to financially supporting a child, it may be helpful to seek guidance from an experienced attorney.
Source: The Medina-Gazette, “Ruling: perks part of child support calculation,” Kiera Manion-Fischer, Oct. 18, 2013