What should I think about if I or my spouse own an interest in a business?
If you or your spouse own any interest in a business, you need to understand the following:
- What type of business is it?
- What interests do you or your spouse holds in the company?
- How profitable is the business? What is the future potential of the business?
- Are you are personally liable for any of the business’ debts?
- Are dividends paid on a regular basis?
If you have access to copies of the business’ tax returns, financial statements or other financial records, etc. The easiest way to hide income from another spouse is through a business. These records are extremely important to obtain as soon as possible.