| It's almost mind boggling how many spouses rely on | | | | benefit of the lower value. This may include allowing |
| their significant other to do the taxes. Most of them | | | | rental property to remain vacant or in disrepair. |
| don't even look at them. They just want to know the | | | | Another example is to contact a business' customers |
| bottom line and where to sign. Check your tax return. | | | | to defer payments of accounts receivable until after |
| Do the numbers correspond to what you've earned, | | | | the divorce is finalized. Then when the accounts are |
| spent and saved? Do the 1099s seem to be in order? | | | | finally paid, the managing spouse gets the benefit of |
| Interest and dividends are reported there, along with | | | | the cash, and also the increased value of the business |
| the names of the financial institutions. Make sure you | | | | now with current accounts. |
| know where your assets are invested and where the | | | | Income tax returns are the first place to look for |
| accounts are kept. | | | | possible clues as to the existence of undisclosed |
| I have seen a spouse pay significant income taxes, | | | | assets. They provide the road map to the discovery |
| often when the payment greatly exceeds the actual | | | | of income earning assets and asset sales. Typically, |
| income tax debt. After the divorce is over, then an | | | | the tax return should also describe the source of all |
| amended return is filed along with a request for a | | | | income, whether it be rents received from rental |
| refund of the over payment. In this way cash that | | | | property, interest on a bank account, dividends on |
| would normally have been divided between the | | | | stocks, gain or loss on the sale of stock, and the like. In |
| spouses was used for income tax payments, and the | | | | reviewing the tax returns, the attached schedules are |
| refund is not shared. | | | | far more important than the summary entries on the |
| Another trick, especially for a spouse who manages | | | | first two pages. In any event, each page of the tax |
| property or a business, is to take steps to devalue the | | | | return should be carefully reviewed. You can get a |
| property over time, so that when it comes to allocate | | | | FREE report at Divorce Ammo. |
| the value of the asset, the managing spouse gets the | | | | |