Uniform Income Statement & Child Support

[daddyinpdx]

I have a question for the group. I've had temp custody of my child for 2 years. My ex's attorney has requested that I fill out a uniform income statement along with last three years tax returns and pay stubs for 2007.

I guess I will finally recieve child support for the child.

My dilemma is that I previously started a C corp. this year that has not paid me a check. Reason being is that I'm trying to establish a business and presently incur various expenses like rent, phone, utlities, etc.

The Uniform Income Statement asks for either a Schedule K-1 and or Corporation federal income tax return for the self employed.

My problem is that I just started the business and have not received a payroll check, nor filed any tax returns for the business as of yet.

What do I put down for my income? My business has received income from a small contract, but I have not paid myself for any services rendered to the business.

Has anyone experienced this before? If so, can you offer me some insight? Thanks a lot.

[mistoffolees]

>What do I put down for my income? My business has received
>income from a small contract, but I have not paid myself for
>any services rendered to the business.

I don't know what forms to use or how to fill them out, but I want to encourage you to BE CAREFUL. Your statement above could get you into trouble.

If they want to know your income, that's INCOME, not revenue. Typically, revenue is much higher than income, so you don't want to give them a revenue figure if they really want income.

In short, revenue is the total dollars coming in. Income is the amount left over after you collect the revenue and pay your bills.

See an accountant if there's any question.

[daddyinpdx]

Thank you for setting me straight. I didn't mean to sound conniving, I'm just trying to get information. Thanks again.

[escape2paradise]

So you've had no income.  Since this is a C -corp I don't see how they have any legal right to see any of the company records.  A C-corp is it's own legal person technically so has nothing to do with you.  They will more than likely impune an income to you.  Either based on the guidelines from your state or on what you could be earning in the same position with another company.  The later of which is pretty hard to show and is likely to cost the X a shiny penny to research and prove.  Unless the later is likely to show you making a tremendous amount of money, my guess is they will impune an income based on the state guidelines.  Be prepared to be asked for bank statement etc...so they can try to pick them apart and show that you make more money than the state guidelines.  If you have a joint account with a new spouse etc...they will have a hard time saying that any deposits are yours.  Not saying you are trying to be underhanded but my X pretty much claims no income, but sure doesn't live the lifestyle to match.  I'm not in a position where I need CS so it's not a huge issue for me, but it sure doesn't sit right, if you know what I mean.

[step_momma_to_2boys]

It's not really hard to impute an income.  Division of Child Support has a list that shows what a person in each line of work in every area of the state would make.  I know because I have had to deal with CS in Oregon.  

When my DH's ex quit her job, I called CS and talked to my DH's case worker.  She told me what the average hourly rate is for my DH's ex's line of work in her county, which turned out to be higher than she was making at her last job.  When we had an arguement over CS (she complained she wasn't getting enough) I simply told her she better start looking for a job because we would push the issue to have her income imputed at the going rate in her area.  She got a job the next month.

[mistoffolees]

>It's not really hard to impute an income.  Division of Child
>Support has a list that shows what a person in each line of
>work in every area of the state would make.  I know because I
>have had to deal with CS in Oregon.  
>
>When my DH's ex quit her job, I called CS and talked to my
>DH's case worker.  She told me what the average hourly rate is
>for my DH's ex's line of work in her county, which turned out
>to be higher than she was making at her last job.  When we had
>an arguement over CS (she complained she wasn't getting
>enough) I simply told her she better start looking for a job
>because we would push the issue to have her income imputed at
>the going rate in her area.  She got a job the next month.


That may be true in a few cases, but it's certainly not true across the board. For an hourly worker doing fairly standard work, it's not hard to impute an income. For a professional (and in this case, a business owner), it's almost impossible.

It also depends a great deal on the state. In my state, my attorney told me that my ex would be imputed at minimum wage except for the fact that she's a nurse - and the current nursing shortage nearly guarantees that any able-bodied nurse can get a good job at good wages.