Divorce Settlement Calculator
Divorce Papers > Divorce Settlement > Divorce Settlement Calculator
Some online sites have developed a divorce settlement calculator. This can be categorized into various parts as follows.
- Property Division Calculator
- Alimony Buyout Calculator
- Income and Tax Calculator
Divorce Settlement Calculator for Property Division
Information to be fed to the calculator
- The amount in USD of the following with respect to the items listed below. The total marital property and the amount that your spouse is likely to keep regarding the following should be input in the boxes provided on the calculator
- Investments
- Business
- Pension
- Cash
- Cars
- Home
- Any additional properties
- The mode of entering information followed in the previous point should be observed for Debts also. The types of debts are mentioned below
- Credit card debt
- Car loan
- Mortgage
- Any other debts
Output given by the calculator
- Gross marital property (after debts)
- Amount and percentage of marital property, that your spouse would have
- Amount and percentage of marital property, that you will have
Divorce Settlement Calculator for Alimony Buyout
Information to be fed to the calculator
- Name of husband and wife
- Whether husband or wife is making the alimony payments
- Proposed alimony payment amount per month
- Number of monthly payments
- Interest rate per year (in percent)
- Top federal income tax rate (in percent)
- Spouse's top federal tax rate (in percent)
- Top state tax rate (in percent)
- Spouse's top state tax rate (in percent)
Output given by the calculator
- The equivalent single payment regarding the payment as tax deductible (i.e. alimony)
- The equivalent single payment regarding the payment as non taxable (i.e. child support or property settlement)
Income and Tax Calculator
The following figures for husband and wife are entered.
Income
- Gross wages
- Self employment income
- Interest and divided income
- Short term capital gains
- Long term capital gains
- Social Security Income
- Pension Income
- Any other Income
Expenses
- Mortgage Interest
- Mortgage Principal
- Rent
- Medical Expenses
- Property Taxes
- Day Care Costs
- Health Insurance if Self employed
- Health Insurance if not self employed
- IRA, Keogh, 401 (k), Simple Deductible
- IRA, Keogh, 401 (k), Simple not Deductible
- Union dues and other 2 percent expenses
- Any other expenses
Alimony and Support
- Alimony paid to the present spouse
- Alimony paid to prior relationships
- Alimony received in prior relationships
- Child support paid
- Child support received
Taxes
- Number of Dependents
- Number of children qualifying for EIC
Output given by the calculator
- Income after expenses and taxes for each party
- Total expenses for each party
- Gross income for each party
- An estimate of state income tax for each party
- Federal income tax for each party
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