Divorce forensic accounting is unique in the realm of financial investigations. Tax strategies and activities designed to punish the spouse do not always align and require special discovery techniques to uncover. Careful analysis of tax returns and supporting financial information is critical to an accurate calculation of cash flow and valuation purposes. Get current in this interactive class, which includes case studies to drive home points.
Learning Objectives
- Identify the basic rules that forensic accountants needs to know for family law engagement
- Determine the basis of preparing a cash flow analysis for family law purposes
- Recognize ways that business assets and income may be concealed, as well as discovery techniques for unreported income, non-necessary business expenses and owner perks
Major Topics
- Behavior indicators dealing with real estate, control of money and other community property
- Lifestyle issues: Does the client's lifestyle reflect the level of reported income?
- Undisclosed income
- Transfers of cash between multiple bank accounts, related party transactions and mortgage refinancing
- Owner perks
- Tax deductions vs. family law deductions
- Business entity-related issues such as partnerships, S corps and corporations
