Today’s Tax Propaganda: Divorce and Taxes and YOU!
Did you know that the MOST important document in your divorce is the “The Financial Statement?”
WARNING:
If you own your own business or own investment real estate,“The Financial Statement” is more complicated than it looks!
It requires:
1. Info from Schedule C and Schedule E on your Tax Return AND
2. Cash flow – income and expenses.
It values your business, your real estate and your other assets.
The bottom line on “The Financial Statement” is used DIRECTLY to calculate the:
Alimony
Child Support
Property Division