Business Income In Ohio Child Support and Divorce
One of the more difficult tasks in calculating child support and spousal support for Ohio divorce and child custody is calculating and determining business income. Business income in Ohio child support and divorce is complex and filled with pitfalls. It can be frustrating to watch the opposing parent reduce his or her income significantly through business expenses. Does this mean that the opposing parent’s income can be reduced from $120,000 in gross receipts down to a net profit of $30,000, simply because he or she claimed $90,000 in business expenses? Not necessarily.
Proving Business Income In Ohio Child Support And Divorce
The person claiming the business expense has the burden of producing to the court sufficient evidence of actual expenses. Unless the evidence meets this standard, the person will not get credit for the business expense. While depreciation may qualify as an expense for the IRS, it cannot be used as an expense for child support calculation of income. This means the depreciation portion of the standard mileage rates cannot be used as a business expense. As you can see, issues involving business income in Ohio child support and divorce hearings is complex and requires experienced counsel to properly vet the issues.
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Hire An Attorney Experienced In Litigating Business Income In Ohio Child Support And Divorce
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. Call Attorney Gigiano at 330-336-3330 if you need the services of a Wooster spousal support attorney near Orrville or a Summit County spousal support attorney near Barberton, please call Attorney Daniel F. Gigiano at 330-336-3330.