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WHAT INCOME ITEMS DO TYPICAL FORMULAS COVER?

April 26, 2017cover formulas income items

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WHAT INCOME ITEMS DO TYPICAL FORMULAS COVER?

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The formula is based on the respective net incomes of the parents. Federal and state income taxes, Social Security and Medicare tax, health insurance, union dues and other mandatory expenses are subtracted from a parent’s gross income (that is, income from all sources including, but not limited to, wages and investments) to arrive at his/her net income.