How do you handle self-employment income when determining child support in Oklahoma?
First off, when determining child support, use the Oklahoma guidelines, child support guidelines, and the most important factor in Oklahoma child support guidelines are the party's incomes. But how do you determine incomes when somebody is self-employed? That's the question.
And the child support guidelines are statutory. It's under Oklahoma law, and you can find it under title 43. And for this particular issue, section 118 B, subsection D, regards self-employment income.
What it provides is that income from self-employment includes income from but is not limited to business operations, work as an independent contractor or consultant, sales of goods sold and rental properties, less ordinary and reasonable expenses necessary to produce such income.
You've got your revenue that comes in from your business, from your contract work, and then you get to deduct certain relevant, necessary business expenses. And that's where you determine a level of income for self-employment.
That's not the end of it, because from there you get to make adjustments for taxes that are paid. If you are employed, you've got your employment taxes, and half of that comes out of your check, half of it's paid by the employer.
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