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owning business & child support

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turtle3

Junior Member
What is the name of your state (only U.S. law)? wa the ex is threatning to get a cpa I gave her att all bank statements & tax returns & list of all assets now they want to hire a cpa what is this going to entail?
 


Drake01

Member
Basically, she thinks you are hiding money. The job of the CPA is to find out how you're hiding it and where. To do that he/she will have to get an understanding of how your business works on a financial level and go from there. Depending on how much money your ex has to use this could entail a review of every document related to the business going back for years. If you aren't hiding money then it's just a long formality that will cost your ex through the teeth. If you are, well then hopefully you're smarter than the accountant. Of course, she'd need a court order before you have to comply with the forensic accountant's investigation.
 

LdiJ

Senior Member
Basically, she thinks you are hiding money. The job of the CPA is to find out how you're hiding it and where. To do that he/she will have to get an understanding of how your business works on a financial level and go from there. Depending on how much money your ex has to use this could entail a review of every document related to the business going back for years. If you aren't hiding money then it's just a long formality that will cost your ex through the teeth. If you are, well then hopefully you're smarter than the accountant. Of course, she'd need a court order before you have to comply with the forensic accountant's investigation.
However, if you have been "cooking your books" then it might be wisest to agree to valid guideline child support based on your non-cooked income.
 

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