Full Time Job and Own a Business that I do not take a pay check

Kirk Riggs

New Member
Jurisdiction
Oklahoma
I have a full time job with an employer to which I have a garnished set up where my child support is already taken out of each pay check. I am not in arrears or anything like that. However, my brother and I opened up a couple of businesses... LLC's to be exact to which they are set up as pass through entities for tax purposes. I want to stress this... I have NOT taken a paycheck/draw/bonus/salary/etc from our companies AT ALL. We reinvest all our capital back into our company. It all stays in our business checking account as we are trying to build the business. Anyway, my question is since it is a pass through entity, that means any "profits" (even though I do not take a paycheck and have not taken any money whatsoever from the company) show up on my personal taxes at the end of the year... So, with that said, is my ex able to try and get some of that money to go to raise my child support even though I havent taken a paycheck or any money whatsoever from our company... It is an LLC taxed as a pass through entity. It looks like we will probably be profiting this year AS A COMPANY. I just don't want my child support to go up even though I havent really been making any extra money.
 
is my ex able to try and get some of that money to go to raise my child support even though I havent taken a paycheck or any money whatsoever from our company


Many former spouses go after ANY and ALL sources of income.

That said, I suggest YOU and your brother EACH consult a tax attorney or a CPA ASAP.

Good luck.
 
So, with that said, is my ex able to try and get some of that money to go to raise my child support even though I havent taken a paycheck or any money whatsoever from our company...

Income is income, whether you take a paycheck or not. If you show a net profit on your tax return it's fair game for your ex to have calculated as part of your child support obligation.
 
is my ex able to try and get some of that money to go to raise my child support

We have no idea what abilities your ex has. However, in the abstract, he/she is certainly "able to try." Whether he/she has any appreciable chance of succeeding is a very different question that no one who hasn't reviewed all of the relevant income data can possibly answer.
 
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