Yes, it isn't simple math, but we are entering into the conversation with an intention to be fair to each other. Just looking for ideas on how to go about splitting it.I appreciate the emphasis on saving; we handle contributions to our kid’s accounts separately.I'd say $1,164 contribution to your daughter's Roth IRA (if she works for some income) or her investment account.
Otherwise, you can divide the $1,164 into two portions, and your ex gets to pick first.
For now, I’m in need of input on how to calculate how much I owe him.
The $1,305 tax = him paying $1,735 - me receiving a refund of $429.
Some formula of figures is needed. It could include these figures or others:
•taxable income of each
•estimated tax payments by each
•refund amounts if filing as head of household/individual
Thoughts?
How much you owe or refunded is not indicative of the tax burden, as it is influenced by withholdings, estimated payments other credits, etc.
What did the divorce papers say on the subject?
I just reviewed the Final Decree. Since they were adult children, we didn't anticipate HOH for college students, and it wasn't addressed in the divorce papers.
Statistics: Posted by Miki M — Wed Apr 10, 2024 4:20 am — Replies 9 — Views 704