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Wage-Like Income

Client Info > Income & Expenses > Wage-Like Income

In General

Which Party

At the top of the screen, you select which party's screen you wish to display, or you may click a button to display both parties simultaneously.

If you display both parties, you will see only a monthly entry for each item.

If you display only one party, you will see the option to enter weekly, monthly, or annual.

You can easily switch back and forth between the two displays, so pick the one that is right for the entries you are making at the moment.

You can enter the wage amounts for any period that you like.

If you change the time period after you enter the wage, the wage will not automatically adjust. Please enter the wage and time period both independently.

Weekly, Monthly, Annual

If you view both parties, please note the button that follows your cursor around and perches next to the current entry field. If you click that button, you will be able to enter an amount for any time period (weekly, annual, etc.).

"Unknown," "To be Determined," "H has Info," Etc.

The same button will also allow you to enter text entries in number fields. You can enter "Unknown," "TBD," "H has info," etc.

Social Security Income

To enter Social Security income that will be received upon retirement, click "more info" on the line for Social Security.

If the income is not yet being received, you enter the amount that you expect will be received when payments start.

This is different from the amount on the statement the party may have received from the Social Security administration. The amount shown on the Social Security statement may have to be increased for future years of work or anticipated increases (or decreases) in Social Security payments.

Given that this number is subject to future politics and economics, there is no sure way to know what to enter. Just make your best guess.

Child and Spousal Support

You may enter child support or spousal support of prior relationships on this screen.

You may enter child support or spousal support of the current relationship by clicking the link at the bottom of this screen.

You may also enter child and spousal support of the current relationship at the bottom of the screen where you enter child support information, in the section labeled "Support to Use ...."

Public Assistance Income

Public assistance income is not included as income for child support purposes.

However, it is entered here with other wage-like income, in order to keep similar entries in one place.

Bonuses, commissions, overtime and tips.

Bonuses, commissions, overtime and tips will be subject in the software’s calculation to both FICA and Medicare taxes, as long as the underlying wage is also subject.

You can change whether the wage is subject to these taxes on the “more info” page for the wage.

Deferred Compensation.

Deferred compensation can be thought of as income to be paid in the future.

Enter it here if you wish to think of it as a stream of income like this.

If it is occurring in the future, you can click the “more info” link, and specify just that years in which the payments will be made.

Deferred income can also be thought of as an asset.

If you think of it as an asset, you can enter it as a Cash & Investment asset.

New Spouse Income

Enter new spouse income for tax purposes only. It will not carry to the state financial affidavit or Budget Report of either party.

It will however, carry to the taxes report if the filing status is “filing joint with new spouse.”

State Specific

Florida

You may enter reimbursed expenses and in-kind payments to the extent they reduce living expenses on this screen.

This is an entry specific to Florida child support, and will not affect budgets or cash flow projections.

New Jersey

In New Jersey, you reach this screen by clicking the Income link on the left, then Wage-Like income at the top.

In New Jersey, the best way to enter this information is to click the four links at the top of the screen: Wages, Wage-like, Investments, and Business.

The data will flow from there over to the Case Information Statement income screen.

The advantage of entering data this way is that the data can then be used to calculate budgets and taxes, and for What If Analysis, as well as the Case Information Statement.

The data that you enter on those four screens is for the current year. To enter last year’s income, enter that directly on the CIS Income screen.

With respect to the next three sections of the Case Information Statement income screen -- Earned Income, Year-to-Date Earned income, and Unearned Income -- you have a choice whether to carry from the other four screens, or to enter it here directly.

You can specify this on a section-by-section basis.

You specify your choice by clicking the checkbox at the top of each of these sections on the CIS Income screen.

Note that if you enter numbers on the Wage-Like Income screen, those numbers will carry to the Budget Report, What If, and cash flow projections.