Charlie Sheen = 4 kids, 2 ex-wives, 2 child support payments, 0 tax deductions

charlie sheenJune 14, 2011 The latest financial issue out of the Charlie Sheen camp is that he will have any compensation from Warner Brothers garnished by a court order. This court order was issued on behalf of Brooke Mueller, the mother of Sheen's and her twin boys. How much will be garnished from Sheen's checks? $55,000.00 per month.

Actually, Sheen has been under a court order to pay this amount to Brooke Mueller since their divorce was finalized in 2010. It seems that Mueller simply didn't trust Sheen to write the checks so she is going right to the largest source of his income and cutting the middle man (Sheen) out of the equation.

$55,000.00 x 2
An interesting note is an excerpt from his child custody agreement with Mueller. It says, "Under no circumstances shall the child support paid by Charlie for Bob and Max be less than the child support paid by Charlie to Denise Richards for Sam and Lola." This would suggest he is paying an additional $55,000.00 per month in child support to Denise Richards as well.

Any tax relief for Charlie Sheen?
Does Charlie Sheen have any kind of tax relief because of the amount of money he is required to pay in child support? No. Child support payments should not be confused with alimony payments. In the case of child support payments, the IRS does not allow the payor to take a tax deduction for the amount he or she pays. Additionally, the person receiving the child support payment does not need to include that amount in their gross income reported to the IRS. It is the opposite with alimony payments, however. The payor of alimony can take a tax deduction; the payee must report the alimony as income and pay tax on it. In this case Denise Richards and Brooke Mueller will not pay tax on the $55,000.00 monthly child support payments they each receive.

 

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