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For Those Doing a CO. . .

thinkthrice's picture

I know this has been blogged about before but I can't emphasize ENOUGH how claiming the skids on taxes HAS to be rotated regardless of even or odd number of skids!!

Why do I say this? Because as they start to age out, the deduction/credit for them gets less and less. Something I really didn't pay attention to--I'm no tax accountant, quite obviously.

For example:

2014 is the last year that Chef can claim Pumpkinhead as he'll turn 19 this year.

If he were allowed to claim Dominatrix (SD turned 16 late last year), he would be getting an almost $800 REFUND .

Because he agreed to claiming only the oldest of all three, then he has been royally shafted on taxes for an entire decade. Claiming Pumpkinhead will give him a $300+ tax BILL

EXACT.SAME.RETURN except for the skid claimed in question.

For any of you SMs whose DH is forming up a CO, make SURE there is plenty of ROTATION. Even if there are only two skids, makes sure your DH gets to also claim the YOUNGER one every other year and not just get stuck with claiming the older one and the BM claims the younger one.

Comments

thinkthrice's picture

Not only that but as OSD gets older and older, BM gets less and less of a deduction!!

Glad there are men out there that aren't as idiotic and guilty as Chef Boy-Are-Dumb.

Sweet T's picture

As a BM with an ex who only sees our child EOW for good reasons and whose CS doesn't even cover a portion of my daycare my ex will never get to claim BS on his taxes. If I had 2 children I would feel the same... I am the one who pays for everything and does all the child related expenses has to live in a good neighborhood with a good school.

hereiam's picture

I agree, rotating should not just be a given.

My DH's divorce decree stated that HE got to claim SD EVERY year because he paid a bigger percentage than BM, even though she had custody. Only working every now and then kind of backfired for her in that respect.

thinkthrice's picture

That's because of your circumstance--I had similar circumstances in which my ex husbands were NOT paying CS.

However with my "DH" he actually paid his ENTIRE salary to the BM for the first six months we were together. He actually pays her about 50% of his net income every week. So he should have done the 2/1 rotation.