QUESTION
Will i have to pay taxes on a business in my husband's and his son's name? business established during the marriage. i worked in the business.
Asked on Mar 25th, 2016 on Divorce - Florida
More details to this question:
we are going through a divorce. the business owes taxes as well as personal i Imagine. i've not signed anything with him. we sold a house, it is in escrow to pay taxes but is not enough. we have 2 other houses. im being told i will have to pay my husband for half the interest on a house and pay taxes.
1 ANSWER
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If the business is incorporated and your are not a shareholder or officer, you are not responsible for the business taxes. If it is a sole proprietor business and the taxes are identified as a marital debt it may be considered in the equitable distribution scheme. If you own homes and they are marital assets, any taxes owed would likely be deemed marital liabilities. These are difficult questions to answer without more specific information regarding ownership of the assets.
Answered on Mar 28th, 2016 at 2:59 PM