Generally, when we have clients come in who are self-employed, we ask that they provide us with a profit and loss statement for their business. The bankruptcy court looks at the last six months before filing. I’ll generally ask clients just to put together a simple revenue versus expenses, profit and loss sheet, and that’s basically how we come up with the income
How Business Ownership Is Handled in Divorce
For business owners, divorce can present unique challenges that go far beyond dividing bank accounts and household property. A closely held business, professional practice, partnership interest, or family-owned company may represent one of the most valuable assets in...