Can I Apply Depreciation Deductions to Child Support in CA
There are many ways for folks to lower their taxable income in CA. For many business owners in California, or for those who own rental properties, you’re likely familiar with the concept of depreciation deductions. These are a common type of deduction that allows you to apply losses from depreciation onto your total taxable income.
This brings us to the main question for today: can these depreciation deductions be used to lower child support payments? If not, how exactly do they factor into child support calculations?
How Depreciation Deductions Factor Into Child Support
Simply put, California does not have a mechanism that allows you to use depreciation deductions in order to lower expected child support payments. Rather, these deductions are added back to the total, having no effect on child support calculations.
There are however other valid ways to get this number reduced. Child support calculations in CA are complicated and involve multiple factors, including each parent’s income level, the amount of custody and visitation granted to each parent, lifestyle factors when living in each home, and any other factor that could impact a child’s health or well-being.
If any of these relevant factors have changed, you can successfully petition for a modification of support to potentially lower your expected monthly child support payments.
Explore Your Options and Connect With Our CA Divorce Attorneys Today
Considering the factors at play, it can be difficult for anyone to pursue a modification of child support on their own. In many instances, your ex will also prove to be an obstacle and will look to have the changes rejected or dismissed, which means that you need to be thoroughly prepared before you kick start this process.
Get the head start that you need by discussing this with a qualified California divorce attorney. Reach out to our team of experienced and trusted CA divorce attorneys at the White Oak Law to learn more, and let our legal experts guide you through this and other CA family law matters.
You can reach our office and schedule an appointment by calling us at 925-271-0999.