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Understanding the Income Calculator
Understanding the Income Calculator

How to use the income calculator for Schedule I and Means Test

Katie Stasiulewicz avatar
Written by Katie Stasiulewicz
Updated over 4 years ago

The Income Calculator tool is located in the Income section when you are adding pay advices. It will automatically calculate the net income for Schedule I and the gross income for the means test based on the pay frequency and type of pay that you select.

*In this specific example, there is one pay advice entered that indicates $2,000 is paid twice monthly. NextChapter will automatically use that information to calculate 24 pay advices divided by 12 months.

*In this specific example, the all pay advices option is selected. NextChapter will calculate the gross average for the means test but will use the most recent pay advice for Schedule I.

*In this specific example, the 'No Longer Employed' box is selected so none of the income is being used on Schedule I.

For additional information on how to enter income, click here!

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