An Accountancy Corporation
By Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA I always inform judges, attorneys and clients that business valuation is not an exact science. Two of those areas that require some subjectivity when valuing a business are the determination of reason- able compensation and the risk associated with the business. The means by which to…
In California, marital standard of living is usually determined by the actual income and expenditures of both parties. However, in some cases, calculations may turn out exceptionally high because both parties lived beyond their means or one of the individuals continually worked excessive hours. When it is clear that the couple lived above its means,…
In 1979, the landmark California Supreme Court case, “In Re Marriage of Epstein,” established guidelines for reimbursements of separate property payments (normally from post-separation earnings) on community property debt. As a customary rule, courts may reimburse a spouse if that spouse used post-separation earnings or other separate funds subsequent to separation to pay for pre-existing…
This case involves apportionment of community and separate property business interests. Case Cite: 156 Cal. 1, 103 P. 488 Date: June 30, 1909 Court: Supreme Court of CaliforniaBackground: Family Code §770 states that when a spouse owns a business at the date of marriage (or acquires one during marriage by gift or inheritance), the business…
This case involves apportionment of community and separate property business interests. Case Title: Anna Agnes Pereira, Respondent, v. Frank Pereira, Appellant Case Cite: 156 Cal. 1, 103 P. 488 Date: June 30, 1909 Court: Supreme Court of California View Case Cite 156 This case involves apportionment of community and separate property business interests. Case Title:…
In litigating many dissolution cases, a material issue is often the determination of the real income of one or both of the parties to the case. The reason? The existence of perquisites and/or fringe benefits. It is common that a significant portion of the income generated from employment or by a self-employed business owner comes…
By Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA Family law practitioners need to be familiar with the numerous types of income tax returns that are essential for financial analysis relevant to several issues in dissolution of marriage cases. These include matters such as child support, spousal support, division of property, tracing, and Family Code…
The following is an excerpt from “Income Reconstruction: A Guide to Discovering Unreported Income,” published by the American Institute of Certified Public Accountants. It provides insight into how a Forensic Accountant would trace non-disclosed income in one particular type of business. Overview of Law Practices It is important to understand how law practices account for…
This case involves allocation of real property interests. Case Cite: 28 Cal.3d 366, 168 Cal.Rptr. 662, 618 P.2d 208 Date: October 30, 1980 Court: Supreme Court of California Opinion (p.369) MANUEL, J.—David E. Moore appeals from an interlocutory judgment dissolving his marriage to Lydie D. Moore. He contests only the trial court’s determination of the…