| « Elder Law Radio | Main | Harassment Restraining Order - In What County can I File? » |
 |
| Hiding Assets in a Divorce - Business |
If you believe that your spouse is hiding assets and he or she owns a business, your first step is to obtain a copy of the business's income tax return. Use IRS form 4506. Your spouse must sign this form, but generally the court will compel the exeuction of this authorization. There are a number of ways to hide money in a business setting, including, but not limited to:
Paying a salary to friends or relatives
Delaying receipt or depositing of funds
Purchasing artwork, furniture or other valuable items in the name of the business to increase expense and depreciate write-offs
Inflating costs
You should generally hire an accountant to help you ascertain the true value of the business and the actual income paid to your spouse. |
|
|
|
|
|
|
Posted By Linda S. Vanden Heuvel on March 04, 2010 08:48 am | Permalink  |
|
Listen to 1470 WBKV AM on Friday mornings at 9am for Legal Talk with the Vanden Heuvel & Dineen, S.C. Law Firm. Call the station at 262-338-8622 or email your questions to questions@vhdlaw.com
|