Understanding Tax Dependent Status When Paying Child Support An estimated 10 million Americans pay child support annually. For many parents, a significant question arises – can I still claim my child as a dependent on taxes despite paying child support? The...
Life is full of unexpected twists and turns. From job changes to remarriages, many life events can significantly impact your financial situation. When these changes occur, it’s crucial to re-evaluate your child support obligations to ensure they remain fair and...
Parents who are no longer together are often reasonably justified in their concern over who pays child support and how much will be paid. Even though most parents want what is best for their kids,...
Millennial Noncustodial Fathers are Less Likely to Work vs Generation X Using data from the National Survey of Family Growth (NSFG), conducted by the National Center for Health Statistics, we can compare the employment and poverty status of millennial noncustodial...
Poverty Status of Millennial Custodial Parents VS Generation X at the Same AgeFigure 6 shows that 36% of millennial custodial parents in the child support program were poor in 2017. Another 32% had family incomes that fell between 100% and 200% of the poverty...
Reasons for Not Working Among Millennial Custodial Parents vs Generation XExamining the reasons why custodial parents are not working reinforces the importance of where generations are within their life cycle. About 64% of millennial custodial parents, who were...
