Arizona population projections, marriages and divorces

A report from the CDC/NCHS (*), National Vital Statistics System (See Table 1) has disclosed some interesting facts about population, marriages and divorces covering our 50 states and the District of Columbia. Marriage and Divorce The national average of divorce to marriages per 1,000 total population is 45.6% (**). When it comes to divorce, Arizona …

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Tax Effects of Divorce or Separation

If you are going through divorce or are recently divorced or separated, dealing with taxes may be the last thing on your mind. But with the financial upheaval that often accompanies these events, it is important to address the tax aspects as they are often a material financial component. Some key tax tips to keep …

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Valuation Issues in Divorce

Divorce can be a very emotional event, which is further complicated by the effort to equitably divide the marital assets. The parties often disagree about the value of specific assets; which assets are sole and separate property; and on occasion, may accuse one another of fraud. One particular item that is often in dispute is …

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A Contract to “86” wife isn’t part of the divorce settlement

Over the years I have been asked to be an expert regarding many marital dissolution cases. Most of my cases deal with valuing business interests held by the divorcing parties and income determination in connection with spousal maintenance and child support issues. Many of my cases have gone amicably between the divorcing parties. Some were …

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Divorce business valuations: double dip, reasonable compensation conundrums

Family Law Court magistrates often face two dilemmas regarding what monthly spousal maintenance payments should be when a business is owned by the divorcing couple and is an asset to be distributed in the property settlement part of the divorce. For purposes of discussion, let us assume that the spouse who runs the couple’s business …

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When Happily Ever After Isn’t: Innocent Spouse Relief

The union of two people in life generally comes with optimism for the future; a hope for the life that will be “happily ever after”. Reality however, can sometimes have a different agenda. There are situations where one spouse or ex-spouse finds themselves on the wrong side of the IRS for a jointly filed tax …

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AZ Child Support: FAQs of a Forensic Accountant

The Arizona Child Support Guidelines provide a standard of support for children and are based on both the needs of the children and the ability of the parents to pay. The Guidelines provide specific calculations to perform in order to determine the proportional share that each parent should pay based on various factors. In order …

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Determination of Income for Child Support: Consider Income Control When A Parent Holds an Interest in a Closely Held Business

When a parent has income generated from an ownership interest in a closely held corporation or partnership, it is important to determine how the earnings of the entity flow through to the parent.   Both Subchapter S-Corporations and Partnerships are pass-through entities.   The income or loss from operations flows through to the parent’s individual return based …

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