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Imputed IncomeIncome that may be attributed to an individual who refuses to obtain employment, chooses not to work for personal reasons, or chooses to earn less than is typical for someone with the individual’s training, education and skill. An individual cannot be forced to work but the court or decision-maker can attribute certain income levels to a person based on the person’s education or training, skill, and work history. Some States consider assets, for example, if the obligor is self-employed or owns real estate. This also may be the amount of income the court/administrator determines that an obligor is capable of earning if he/she does not appear at a hearing after proper service. Some will also attribute income to a custodial parent who chooses to remain unemployed. (See also: Disposable Income; Guidelines) Question: How does imputed income work in child support calculations? I have recently gone back to school to better my earning capacity to take care of my children. I have been told that because I am a convicted felon I will not be employable and therefore the imputed income is my job at a bagel shop. Can I not get a reduction in child support to finish school because of my criminal history? Question: How does getting married in Dec. to my domestic partner(on my insurance) effect imputed income on my 06 W2? I have imputed income added to my W-2 for 2006, for her health benefits. We got married in December I was wondering if this was similar to having a Baby in December where as you can get the full deduction as if you had the baby Jan 1. Can I ask my employer to re-issue me a W-2 less the imputed income? Question: Can someone please explain imputed income for me concerning domestic partner ins? i am trying to understand imputed income and what that means..thanks! Question: Whose burden of proof is it to get imputed income over turned? Judge imputed income to ex in 2006 now he filed motion to modify.Isn't it his burden to hire vocational expert and prove his earning capability as I had to do to get his incomeimputed in 2006?
Question: Imputed income from domestic partnership health insurance? I have imputed income on my pay stubs that amount to $5000/year. It is added on to my check so they can tax it then it is deducted back off. This $5000 is added into box 1 on my w-2. Why is it included here when I haven't actually received the money? Its kind of a bummer realizing my tax return could be $1000 more without this extra $5000 added on. Question: Explain the IRS rules changes about more than $50,000 of basic life why this is consider imputed income? Don't I have to die in order to collect my basic life insurance? Isn't this taxed after my death anyway? Question: HUD question. Is missing money counted as income or to be imputed assets? Would a large amount of money missing from a savings account be counted as income or imputed as disposal of assets? (If a tenant claims they spent the money on themselves but does not provide receipts for verification.) The HUD handbook says to impute assets for 2 years after the disposal date. but it also says "the withdrawl of cash or assets from an investment as periodic payments should be counted as income."
That link didn't work. Question: how imputed income calculated in ca? How imputing income work in california divorce, my wife is chriopractor but showing only income of 1600/ month in her busniess, but us labour data show she should make about 80000/year. Will court will listen to this to reduce child support.
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but problem is its her practice, mostly take cash, she show claimed loss of 20000 last year. Question: Child support and imputed income? I'm in Georgia and there is a new child support income shares model has been implemented since the start of this year.
I'm wanting to know if my ex-wife's income be imputed into these calculations if she is not currently working? The new law is supposed to base child support on the income of both parents and I believe she is not working to avoid this. We have a son that is a year old now and she has not worked since his birth. She held down full time work previously.
Will the court look at her past years tax filings and impute her income if she continues to not work? Question: Does anyone understand what "imputed income" is in regards to health care reform? what they are looking at is taxing what your employer pays not what you pay. that is called imputed income.
you probably pay no more than 30% of the actual premium. you would pay the tax's on the other 70% without making a dime more in income.
look into it people!
wow, not a lot of response's
guess i didnt use a proper inflamatory word in the question!
it's only the biggest issue on the table, but i guess we shouldnt worry about it! Question: Does the IRS allow companies to deduct imputed interest expense received by an employee as taxable income? The IRS taxes imputed interest received by employees. Does IRS allow the company that provides the benefit, a deduction for the imputed interest, and lower the company's taxable income? What law guides this? Question: ESPP - imputed income and taxes? Please help me figure this out.
I participated in my company ESPP plan where I received 15% discount for buying the stock. The discount was reported in my salary as the imputed income. I still hold the shares and haven't sold any.
Do I report to IRS anything at this time?
When I sell the shares - at least 2 years from now - how do I calculate the taxes? Question: What means imputed income? Has someone knows what is te definition of imputed income? Where I can download the entire U.S. Code formet PDF? Question: Should young adults receiving tuition/grants/etc. be taxed for those? It is imputed income.? So much of everything else for adults is imputed as income. Why should tuition be any different? If, at high school graduation, my dad gave me $100,000 to start my own business, I would pay tax on that. But if he gave me $100,000 to go to college, it would be tax-free.
How can we lead a movement to start taxing these rich kids that go to school for free? Question: My paycheck says imputed income and a dollar amount. What does that mean? Question: Imputed income & Obama ? I was driving around this morning & heard Neal Boortz talking about imputed income, which I'd never heard of before. Here's what he had to say about it:
"This is an idea that the Clinton administration was working on when the Republicans took over. The concept here is to take people who are not in the higher income tax brackets and move them on up, so to speak, by creating income for them out of thin air. That way you can tax them more. The name for this artificial income would be "imputed income," and it would be fully taxable.
Now ... for you homeowners, here is what the Democrats may have in store for you under an Obama-Pelosi-Reid Troika.
Let's say you own your own home. You've had it for some time. Your mortgage payment is $1000 a month. Homes similar to you in your neighborhood rent for $2000 a month. The IRS will tell you that since you are living in your home for $1000 a month less than you would have to pay if you were a renter, that extra $1000 a month is actually income to you, and you should pay income taxes on that money. That would be an extra $12,000 a year on your taxable income line ... maybe enough to shove you into a higher tax category! And think what would happen if you owned your home free and clear? Bingo! $24,000 in imputed income!"
Does anyone think this is a real possibility?
Question: Can someone please explain to me what the *^(0(& imputed income is all about? Question: What happens to imputed income from insurance for a domestic partner when we become married? Hi,
My girlfriend (opposite-sex) and I became domestic partners, so that she could get health insurance benefits through my employer. Then, we were married in October.
For the 1st part of the year, the health insurance benefits were reported as imputed income on my paystub, and have been added to my wages on my W2. After we were married, these benefits weren't shown as taxable income.
Now, I'm getting ready to file my taxes, and I'm not sure what to do about the extra reported income (~$3700). Since we are considered married for the year, can I subtract the imputed income that was reported while we were domestic partners? Do I need to ask my employer to re-issue the W2 without the imputed income shown in my wages? Or am I stuck paying taxes on these benefits for the part of the year when we were domestic partners?
The difference in tax we'll pay is over $900, so I appreciate any advice you can offer. Also please reference any Internal Revenue tax code or publication that may clarify this. I haven't been able to find any information on this anywhere.
Thanks! Question: Child support imputed income? My ex and I have a son together. I am the custodial parent. My ex moved to different state about 1 year ago. Before he moved, he worked as a teacher. Now, he's working at Home Depot at his new state as a sales clerk.
He wanted his CS lowered because he doesn't make the same amount of money as he did when he was a teacher. The judge didn't agree with him and he told my ex that he'll be imputed income based off him being a teacher.
I asked the judge what state is he going to base his findings on. Since my ex never worked as a teacher in his new state the judge told me he didn't know and that he'd have to look at all the numbers and come up with a calculation. My states rules in the guidelines say that income will be imputed based off the parents local job market. His local job market is now his new state. Well, I got the order last week and it shows that the judge based the calculations off him living here, but the rules clearly state that calculations will be imputed based on the parents local job market. Teachers make more there and that would be more income for my son.
He has never been a real dad to my son. I mean the guy moved from him to work at Home Depot as a clerk. He purposely took a lower paying job because he didn't want to pay child support. He's making beans on purpose and he's told me this in numerous conversations. He could easily be a teacher where he lives now.
I have 30 days to appeal the decision. Do I have a chance if I bring up the fact that my state is not his local job market anymore?
Thank you.
Hi ms22notes
I've looked at salary websites as well as looking at his states department of labor and wages site. My son would get 100 more a month, that's 1200 more a year. Is that worth me appealing? Question: What are the chances of a Democratic majority enacting IMPUTED Income? This is an idea that the Clinton administration was working on when the Republicans took over. The concept here is to take people who are not in the higher income tax brackets and move them on up, so to speak, by creating income for them out of thin air. That way you can tax them more. The name for this artificial income would be "imputed income," and it would be fully taxable.
Here’s an example of how imputed income would work:
Let's say you own your own home. You've had it for some time. Your mortgage payment is $1000 a month. Homes similar to you in your neighborhood rent for $2000 a month. The IRS will tell you that since you are living in your home for $1000 a month less than you would have to pay if you were a renter, that extra $1000 a month is actually income to you, and you should pay income taxes on that money. That would be an extra $12,000 a year on your taxable income line ... maybe enough to shove you into a higher tax category! And think what would happen if you owned your home free and clear? Bingo! $24,000 in imputed income!
Is this perhaps something that we could look forward to under an Obama regime?
Your thoughts?
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