Jon and Marg are trying to figure out how much child support needs to be paid. They have 2 kids , Jane (age 5) and Al (age 7) and have agreed to share custody (spend roughly equal amount of time between parents). Jon makes $50, 000 and Marg makes $70, 000.
How much will child support payments be and who will pay them?
Marg would pay Jon $304 a month for Child Support
What happens to these numbers if both children end up spending a majority of their time with their dad?
Marg would pay Jon $1,062 a month for Child Support
Consider Jon and Marg again. Jon makes $50, 000 and Marg makes $70, 000. That makes the total parental income $120,000. To figure out what percentage each parent pays divide their income by the parental income and times it by 100. Calculate the percentage of special expenses Jon and Marg will need to pay.
Jon 50,000/120,000 x 100 = 41.66%
Marg 70,000/120,000 x 100 = 58.33%
If their son Mark’s hockey lessons cost $300 how much will each parent pay?
Jon 0.4166 x $300 = $125
Marg 0.5833 x $30 = $175