What is the purpose of the Illinois Calculating Support form?
The Illinois Calculating Support form is designed to help determine the minimum child support obligation for non-custodial parents. By filling out this form, parents can calculate their financial responsibility based on their income and deductions. The form provides a clear method for assessing how much support is needed to meet the child's needs.
How do I calculate my total income on the form?
To calculate total income, start by entering the gross income from your employer. This includes wages, salaries, bonuses, and any other employment-related income. Next, add any other sources of income, such as rental income, dividends, or interest. The sum of these amounts will give you your total income, which is the first step in the calculation process.
What types of deductions should I include when filling out the form?
When completing the form, you should include various deductions from your gross income. These may consist of federal and state income tax withholdings, FICA (Federal Insurance Contributions Act) taxes, mandatory retirement contributions, union dues, and health or hospitalization insurance premiums. If you are already paying support for other children, include those amounts as well. Adding these deductions together will help you determine your net income.
How do I calculate my net income?
To find your net income, subtract your total deductions from your total income. This calculation will provide you with the amount of income available for child support obligations. The formula is straightforward: Net Income = Total Income - Total Deductions. This net income figure is essential for determining the appropriate child support amount.
What is the guidelines percentage, and how is it determined?
The guidelines percentage is a predetermined percentage of your net income that is used to calculate child support obligations based on the number of children involved. For one child, the percentage is typically 20%, for two children it is 28%, and it increases for additional children. This percentage is applied to your net income to determine the amount of child support that will be due.
How do I find out the final child support amount?
To calculate the final child support amount, multiply your net income by the guidelines percentage that corresponds to the number of children. For example, if your net income is $3,000 and you have one child, you would multiply $3,000 by 20% (0.20), resulting in a child support obligation of $600. This final amount represents the minimum support that should be paid to ensure the child's needs are met.