Not sure if this is the correct place for this, but here goes...

Over the last few weeks my rating has jumped several hundred points due to timeouts by my opponents. I understand that you must lose points for timeouts or some would simply timeout in a losing position. Might there be a way to allow the winner of a timeout to accept or decline the rating increase? The main reason for this is pairings in the Team chess matches and tournaments. I'm a pretty weak player and when I'm paired against someone who is a legitimate 1800+, I really don't stand a chance.

If you go into your online chess settings there is an option you can unclick so that you don't get points when your opponent times out. 

I would hope that whoever times out still loses points even if you don't gain any.

Thank you very much...I didn't know this feature already existed...So I'm guessing that I would have to unclick it say if I was actually in a winning position and my opponent timed out?

Seems like any rating system will be an approximation and I have "experienced" what I would expect is an overinflated rating (not from timeout but by happening to finish a series of games I won in a row).  My advice is to play more and play as large a cross section of people with different ratings as you can.  In time your rating will sort itself out.  You can search on how the ratings are estimated, but the gist of it is the more you play the less your rating will be affected win or loose. 

If I were allowed to choose whether to "count" a timeout loss in my rating, I would also like to choose if the forfeit should count in my Best Win calculation.

I don't see the option you're speaking of.  It doesn't pappear in my Online chess settings.