How To Determine Income For Self Employed

Child support is one of the most contentious issues in a divorce. Everyone wants to make sure their kids are taken care of financially. Determining a child support award that is sufficient is one way to make sure your children get what they need. Courts reach award amounts by taking certain factors into consideration, and by following the guidelines in place. Among the factors examined are the income of each parent, the split of responsibility for things such as childcare and medical needs, and the parenting time arrangement. This calculation becomes difficult when assets or income are hidden, which means it becomes important to locate all source of revenue for your spouse. This is especially true if your ex is self-employed, because self-employment makes it easier to hide money.

Some of the more common places to hide assets or personal funds include:

● Payroll.

● Office expenses.

● Assets titled in the company name, but used for personal recreation.

● Business trips.

If you suspect your spouse of hiding assets, there are some things you can do in your search for funds. Effective techniques for discovery of assets include hiring a forensic investigator/accountant, sending written requests for documents, and requesting an accounting of any family owned business. For those that wish to conceal assets, there are many creative methods to do so. Paying down debt, opening accounts in children’s names, or repaying debts to family members are popular ways to hide funds. The key is to determine if the cost of discovering assets is worth what might be found. A financial expert can help you make a decision, and a qualified family law attorney can weigh the benefit against the cost. Call our office today to discuss the facts of your case, and find out what you can do to protect your assets.

If you have questions about discovering assets during a divorce, consult a qualified legal professional. Let us put our experience to work for you. Call The Sampair Group in Phoenix and the West Valley today to schedule your appointment.