Divorce Tips 4 Self-Employed By Robert Berchan, family lawyer Santa Clarita, CA (661) 295-4979
Who really wants to think aboutdivorce when you are self-employed? But it happens Every day!
Bummer, huh? God knows, you have enough on your mind just trying to make ends meet! But in a worst-case scenario, as the old saying goes: an ounce of prevention is worth of pound of cure! So here are 3 preventative tips!
Tip #1: Hire a Bookkeeper Why hire a bookkeeper and send all incoming deposits of the business to the bookkeeper? Isn’t that expensive? In a worse-case scenario, your spouse may accuse you of “hiding” assets. But not so if your normal business practice is to wire all incoming deposits to the bookkeeper.
Tip #2: Use “QuickBooks” & a CPA Why use Quickbooks software along with a CPA to do your taxes? You can back-up quickbooks so if there is a dispute, you will have your records. And if your normal practice is to let a professionale be in charge of the money, there is less chance of being accused of falsifying records or absconding with monies that are supposed to be shared by both spouses.
Tip #3: Use Only 1 Bus. Account Why use one single business account where assets are deposited & avoid comingling personal assets with business assets? Too often people pay themselves extra out of their business funds by writing a check to themselves. Or by paying personal expenses with their business accounts. Resist this temptation and you’ll find yourself on more solid ground!
Not the Only Advice Take these tips with a grain of salt. These are just suggestions. I am not a “financial guru”. So take the time to read up on the subject of personal finance. For Family Law matters, please click this link: www.familylawsantaclarita.com www.familylawsantaclarita.com