Divorce Cases: Uncovering Critical Information in Tax Returns and Financial Statements

Discovery Strategies, Analyzing Tax Returns and Financial Documents, Using Financial Experts

Note: CPE credit is not offered on this program

Recording of a 90-minute CLE video webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Tuesday, May 24, 2022

Recorded event now available

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Course Materials

This CLE course will provide family law counsel with strategies to utilize tax returns and financial statements during a divorce case. The panel will focus on appropriate discovery methods to obtain information, explain how to get the most out of your analysis of tax returns and financial documents, and outline the best approaches for using financial experts.

Description

Tax returns and financial statements contain valuable information to develop financial strategies during a divorce case. Family law counsel must identify and leverage critical financial details in financial documents and personal and business tax return schedules.

Specific line items can provide counsel with the basis for drafting discovery requests to obtain critical information regarding the marital estate's financial resources. This information is also necessary to frame financial strategies and potential resolution strategies.

Counsel may need to work with financial professionals or forensic accountants to review business financials, including balance sheets, income statements, statements of cash flows, general ledgers, and accountant work papers. Counsel should be well versed in ways to maximize the use of financial experts in the case.

Listen as our panel discusses the complexities of discovering critical information through analyzing tax returns and financial documents and identifies best practices for using accountants and other financial professionals.

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Outline

  1. Income tax returns
    1. 1040
    2. Schedules A, B, C, D, and E
    3. The 1120S for an S corporation
    4. 1065 for partnership income
    5. W-2
    6. K-1s
  2. Financial statements
  3. Methods to obtain discovery
  4. Ways to use accountants and other financial experts

Benefits

The panel will review these and other key issues:

  • When looking at financial documents to determine parties' income and assets, what are the critical data points for divorce counsel?
  • What items in tax returns and financial statements provide clues to income, assets, and debts?
  • What are best practices for leveraging financial experts and forensic accountants during the divorce action?

Faculty

Miles, Johnathon
Johnathon E. Miles, CPA/ABV
Principal
Brisbane Consulting Group

Mr. Miles is a manager responsible for valuation, forensic accounting, and litigation support services for Brisbane...  |  Read More

Gottlieb, Mark
Mark S. Gottlieb, CPA/ABV/CFF, ASA, CVA, CBA, MST
-
Mark S. Gottlieb, CPA

Mr. Gottlieb leads his team of highly qualified professionals in conducting forensic accounting investigations,...  |  Read More

Shaknes, Valentina
Valentina Shaknes
Partner
Krauss Shaknes Tallentire & Messeri

Ms. Shaknes is a founding partner at KSTM. Since graduating from law school, she has practiced exclusively matrimonial...  |  Read More

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