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My ex husband bought a business, and I am looking into requesting…

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My ex husband bought a...
My ex husband bought a business, and I am looking into requesting more child support thru my lawyer. My question is.....since he is self employed the formula used by the courts would be from his business tax return. Now, he just purchased this business and so the returns from previous years would be used from that business and the years from the other business that he owns too correct? Because on his personal returns his income is no where near to what the business is making as he takes minimal draw.
Submitted: 8 years ago.Category: Legal
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Answered in 7 minutes by:
6/9/2010
Lawyer: Ray, Lawyer replied 8 years ago
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 48,804
Experience: 30 years in civil, probate, real estate, elder law
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Thanks for your question.You are correct that this is case specific and uniques and court would look at business here to the degree possible.If the prior owners filed tax returns here they would not be accessible.But certainly he is making quarterly payments and other records at least since he has purchased as well as value of company, etc. The judge woudl examine all to arrive at fair support and a raise for you in this matter.
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Customer reply replied 8 years ago
The loan officer that gave him the loan has the last two years of financials from the previous owners, so they are accessible. He has only had the business for a month since he has taken over, there is appraisals done on the business etc. Those things along with the tax returns of the other business he owns would be used in arriving at a fair support correct?
Lawyer: Ray, Lawyer replied 8 years ago
Yes they are directly relevant and discoverable.And yes court would use these here to set support.
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