Divorce Accounting - Locating Hidden Assets
Attorneys often hire CPAs as forensic accountants to help represent the spouse who doesn’t have access to the family’s financial information. In these cases, the forensic analysis might include reviewing financial data to determine its accuracy and reasonableness; determining each spouse’s standard of living and disposable income; locating hidden assets; and determining what property may be considered separate from marital property, especially if one of the spouses runs a closely held business. This type of work has created a highly focused segment for the profession: forensic accounting in divorce engagements.
Forensic accounting in divorce engagements is a fairly new discipline, and the process of locating hidden assets or deferred income can be difficult. Many times the other spouse will go to extreme lengths in order to hide the assets not only from their spouse but from the IRS.
At Capital Protection Alliance, our CPAs can provide a valuable service that builds on our existing expertise in tax, audit, and accounting services. Please book your free consultation today at http://capitalproalliance.com/helpstep1_individual_tax/