Last week, I mentioned that interest income from non-marital property is used to calculate support. What other “income” is used to calculate support? The law says income from any source is to be used in calculating support.
If you are an employee, all of your income is considered including bonuses, commissions and overtime. If you contribute to a 40lk, the amount of that contribution is added back to income. If you receive employer perks such as a car or cell phone, the value of those perks is calculated and added to your income. Certain other deductions such as life and disability premiums and parking allowances are added back to your income. Income also includes lottery and gambling winnings. If you are on unemployment, social security or workers compensation, that income is used to calculate support. If you receive a personal injury award, that is considered in calculating income.
Next week, I will discuss the calculation of income for a small business owner.