If Your Spouse Has a Cash Business

Many clients have a spouse who is in a cash business or earns money “off-the-books.” In those situations, they may not know exactly how much income their spouse earns. More importantly, they want to make sure that their spouse pays the proper amount of child support and/or maintenance (alimony).

There are several ways to determine how much income a cash business earns. One of the first things that both you and your spouse will need to do is complete a Statement of Net Worth. This is a document that shows your income, expenses, assets and liabilities. An experienced attorney can examine a Statement of Net Worth to determine if (1) your spouse is telling the truth about his/her income and (2) what your spouse’s approximate true income is.

Another way to determine income is to examine the bank account statements and credit card statements. An attorney can use these statements to determine what items are being purchased.

An additional method used is to examine invoices and bills that the spouse is paying. For example, if your monthly bills equal $8,000.00 per month and your spouse is paying all or most of the bills, then your spouse has to be earning at least $96,000.00 a year to pay for those bills.

If your spouse has a cash business or is making money “off-the-books”, it is important to hire an attorney who can determine what your spouse’s income is. David Badanes and the Badanes Law Office has helped numerous individuals in these situations. If you need an attorney to represent you in your divorce, call David Badanes and the Badanes Law Office today at 631-239-1702, email me at david@dbnylaw.com or visit our web site: www.dbnylaw.com.