Hi Soc,
I hope I meet the criteria for posting here. My facts:
Wife and I have been married about six years and she's threatening divorce, so no agreements in place yet.
We have one child together, six years old and we've both been pretty equally involved in her everyday care and nurturing.
Anyway, I lost a job last year to downsizing and have a new one making about 20% less. Also, when I left the other job, I cashed in stock options and received a severance, so my income tax return says I made a little over $100,000 last year. I make $60,000 per year now.
Add to that, that my current job could also downsize and that industry has no other options in my area so to stay would mean starting over at another substantial income loss.
My questions:
1. If she files on me now and they look at last year's return, will they automatically impute my CS to the $100,000 level based on income tax or will they go with my $60,000 per year salary?
2. If I lose this job eventually and have to take a paycut, how likely are they to impute income to me, forcing me to move?
Again, I live in NY, Capitol District.
Thanks in advance.
I hope I meet the criteria for posting here. My facts:
Wife and I have been married about six years and she's threatening divorce, so no agreements in place yet.
We have one child together, six years old and we've both been pretty equally involved in her everyday care and nurturing.
Anyway, I lost a job last year to downsizing and have a new one making about 20% less. Also, when I left the other job, I cashed in stock options and received a severance, so my income tax return says I made a little over $100,000 last year. I make $60,000 per year now.
Add to that, that my current job could also downsize and that industry has no other options in my area so to stay would mean starting over at another substantial income loss.
My questions:
1. If she files on me now and they look at last year's return, will they automatically impute my CS to the $100,000 level based on income tax or will they go with my $60,000 per year salary?
2. If I lose this job eventually and have to take a paycut, how likely are they to impute income to me, forcing me to move?
Again, I live in NY, Capitol District.
Thanks in advance.