A business valuation is generally based on the following three approaches: Asset based approach Market based approach Income based approach This blog will focus on the income based approach due to its wide application. But, keep in mind, a thorough valuation will include all three … [Read more...]
The Dependency Exemption
Divorcing parties often want to know which former spouse will be entitled to the $4,000 (for 2015) dependency exemption. The exemption is granted with respect to a “qualifying child”. The rules are found in Internal Revenue Code Section 152 and there are many exceptions and requirements. … [Read more...]
Unreported Income and Hidden Assets
Unreported income and hidden assets are often alleged in divorce, especially in high net worth cases. Such claims are usually made by a spouse who is either not running the family business or has not been involved with the family finances. Under-reported income can impact child support and spousal … [Read more...]