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  • spousal support

    I am aware SS is concidered 42% of my income and there are always variables but upon trying to calculate a rough estimate can anyone verify if my amount sounds approximately right?
    my income 65,000x 42% = 27300
    her income 18,500
    difference 8,800 divided 12
    approximately =750/ month


    I'm not sure with this if I've done the right order of operations

  • #2
    It's worthy to consider periodic SS amounts paid are tax deductible to you and taxable to them when realizing the numbers, and when ordered. You just may want to further consider filing form T1213 to realize immediate tax savings.

    http://www.cra-arc.gc.ca/E/pbg/tf/t1213/t1213-10e.pdf

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    • #3
      yes I am well aware of the taxes Im just trying to work the numbers for a rough proposal and Im not sure if Ive worked out a roughly right amount.

      By theway LV, do you ever sleep?

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      • #4
        Yeah, roughing the numbers may have some advantage, but really doesn't portray anything near accurate once tax is brought into the equation.

        I sleep very well. Thanks for caring. Hows your sleep lately? lol

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        • #5
          You just always seem to be on line. as for the taxes, because my ptresent support is deducted as a net amount it seems to me that the taxes are an " afterwords " concern with the courts. I pay ALL the taxes before my garnishment and claim it back at the end of the year, shes paid a net amount at the court order and pays the taxes back at the end of the year.

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          • #6
            My present SS was based off my gross amount by the court but FRO deducts the same amount off the net amount of my paycheque.

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            • #7
              Really. I guess that makes two of us. As far as taxes, take a look at the link, and respective form. As I mentioned, you could gain an immediate tax advantage from income source rather than wait the entire year to make your deduction.

              It's not relevant when or how the other side pays their taxes on income.

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              • #8
                I have an excuse, I have a broken ankle. Thanks for the link but I tried that and was denied because I have arrears.

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                • #9
                  Thats too bad. Not much you can do other than square up the arrears prior as I suspect Fro will be seizing your tax refund, considering the deduction.

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                  • #10
                    Already informed me that was going to happen. I go back to court early Feb, all I can do is hope for a reduction, its all very messy.

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                    • #11
                      Seems that way. Hopefully, they will be somewhat lenient in your quest for reduction. Good luck.

                      Comment

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