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Supportworks - Default Settings

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Default Settings
 

FICA Tax Rate

=

.076

Income Limit for SE Tax

=

97500

Medicare Rate

=

.0145

Tax Exemption Per Child

=

3400

Local Income Tax Rate

=

(your local rate)

 

The procedure for making this change is as follows:

 

At the initial Supportworks screen, click on 'OPTIONS' then 'SETTINGS' located at the top tool bar. When you enter the new values, just enter the number, DO NOT put in a comma, dollar sign or percentage sign.

 

Note that the federal tax exemption rate per child has increased from $3,300 (for 2006) to $3,400 (for 2007). (These amounts are provided by RIA based upon CPI figures – IRS Code Sec. 151(d)). As noted in the documentation, there is some debate as to whether the 2006 figure should be used since the worksheet is generally based upon last year’s income or the 2007 figure should be used because the calculated child support will be paid during tax year 2007. This is a decision that will have to be determined based upon the approach used by your jurisdiction. Once you have determined the appropriate value for your jurisdiction, enter the figure and then click the “Apply” button in the lower corner of the window.

 


Supportworks© ~ Child Support Guidelines Worksheet Program
Copyright 2000; All Rights Reserved.
Piper Software Productions, Inc.


This page was last updated on 03|18|07.
For Questions or Comments please e-mail us at:
info@supportworks.net

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