Is it possible for the income of the business to be included in an alimony, where I am the owner of an incorporated business?

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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 9 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.


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