Is it possible for the income of the business to be included in an alimony, where I am the owner of an incorporated business?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Is it possible for the income of the business to be included in an alimony, where I am the owner of an incorporated business?
Or would it just be my income that is included? I believe that a corporation is completely separate, is this true?
Asked on June 25, 2012 under Family Law, Iowa
Answers:
Brad Micklin / The Micklin Law Group
Answered 11 years ago | Contributor
The answer this question will turn upon many different issues. First, I need to know whether it was a closed corporation, a closely held corporation or a C corporation with many shareholders. Additionally, we would need to know how much control you have over distributions and your paycheck or income for services rendered.
You should speak with an accountant to best plan how to keep your books from being improperly reviewed against you.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.