Pittsburgh Divorce and Business Owners
Pittsburgh Business Valuation Attorneys
When a party to a divorce owns their own business, the divorce becomes more complex. In addition to the sometimes difficult task of determining the actual income for a self-employed individual, it is also necessary to determine a value for the business.
Do you or your spouse own a business? Call Lisa Marie Vari & Associates at 412- 281-9906 or toll-free at 1-844-VARI-LAW to schedule an appointment. Our lawyers are experienced in business valuations and high-asset divorces.
Calculation of Income for PA Support Cases Involving Self-Employed Individuals
For self-employed persons, determining the amount of income available for child or spousal support purposes may be difficult. Self-employed persons may not accurately report all of their income on tax returns or may take as deductions certain expenses that are actually personal expenses such as the payment of automobile loans and insurance. For support purposes, certain expenses that are deductible for tax purposes may not be deductible from income for support. The family courts will carefully scrutinize the income claimed on the tax returns of self-employed individuals for these reasons. In many situations, our Pittsburgh divorce attorneys will employ a forensic accountant to assist in analyzing the income of a self-employed individual and to provide a report and testimony to the family court regarding their findings. Our office is also fortunate enough to have an accountant on staff to assist our business owners and their spouses in the calculation of income for support purposes.
Valuing a Business for Pennsylvania Divorce Purposes
One of the questions our Pennsylvania divorce attorneys must answer is whether the business owned by an individual spouse is a marital asset and, if so, what is the value of that marital asset. Once the business is characterized as a marital asset, our Pittsburgh divorce attorneys oftentimes retain a business valuation expert to help us determine the marital value of the business. Whether the business is a medical practice, a construction company or a retail store, we have a network of professional business valuation experts that work with our Pittsburgh divorce attorneys to determine the business’ value.
Helping Us Help You
One of the most important things you can do to help us and save on attorney’s fees is to keep accurate records, including tax returns, bills, invoices, etc. If it is your spouse’s business, you can help your case by obtaining copies of all of that information. For ways that you can help us, help you, click here.
Contact our Pittsburgh Divorce and Business Valuation Attorneys
Email our Pittsburgh business valuation attorneys to learn how we can protect your marital property rights and fight for a fair support order for you. Or, call us today at one of the following numbers:
Pittsburgh – 412-281-9906
Canonsburg Washington County – 724-436-5500
Cranberry Township Butler County, PA – 724-776-9906
Clearfield County PA 814-290-0587
Toll-free at 1-844-827-4529 (1-844-VARI-LAW)
Our Pittsburgh divorce lawyers have represented over 1500 family law clients including many self-employed business owners or their spouses. Let us put our years of experience to work helping you.
Appointments may also be available in other meeting locations throughout Western Pennsylvania upon advance arrangements with our office. Ask the secretary scheduling your appointment for details including appointment locations.