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Atlanta, GA family & immigration law attorney Judith Delus Montgomery talks about the biggest challenge she faces in property division disputes. In family law cases, business owners present a notable challenge. The extent of control exercised by business owners over their reported income to the government varies, influenced by factors such as the presence of a bookkeeper, CPA, or tax strategist overseeing regular financial record management. Within Georgia, numerous small business owners lack these professional services, adding complexity to discussions on revenue and income in divorce proceedings.
Some business owners may adopt practices like paying employees under the table or in cash, introducing complexities in accurately assessing revenue and expenses. This situation often leads to discrepancies where one spouse contends that the business generates a substantial monthly income, while in reality, significant expenses diminish the actual income. Consequently, disputes arise in divorce cases, with one spouse seeking alimony and child support based on the perceived higher income, contrary to the lower actual income after accounting for expenses. This issue emerges prominently in cases involving the division of assets.