Evidence in dissolution of marriage proceeding established that husband’s income was more than $400,000 per year, rather than only $208,000 per year; while husband claimed that his income was limited to wages from his chapter-S corporation, another schedule showed that husband received other taxable distributions, and while husband claimed that those other distributions were not available to him, accountant explained that the corporation sometimes distributed additional money to shareholders, including husband, in the form of loans, there were no documents to show husband had ever signed a note or had any indebtedness to the corporation, corporation’s tax returns did not indicate any outstanding loans, and husband’s individual tax returns, as well as corporate tax returns and balance sheets, suggested that husband’s income was greater than merely his wages.
Laura Morgan is a Family Law Consultant. Laura is available for consultation, brief writing and research on family law issues throughout the country. She can be reached through her website. www.famlawconsult.com