Silver is a very popular car color overall, but women prefer silver over men, according to a recent study of the used car market. Mitsubishi Motors Corp President Osamu Masuko poses next to the company's silver concept car GC-PHEV at the 43rd Tokyo Motor Show November 20, 2013. Photo: Reuters.
The phase out for the Child Tax Credit begins at a modified adjusted gross income for joint filers at $110,000, single filers and head of household at $75,000, and $55,000 for married filing separately.he phase out for the total Child Tax Credit (i.e. , the credit amount times the number of qualifying children) is $50 for each $1,000 (or part thereof) of modified adjusted gross income above the thresholds.
That product ($8,500) is the basic child support obligation. You would be responsible for 40% of that figure ($3,400) because your income ($20,000) makes up 40% of the combined parental income ($50,000). The other parent would be on the hook to pay 60% ($5,100).