QUESTION
How will my value to business be determined?How can i use seperation date not settlement date to determine value of business?
Asked on Mar 07th, 2015 on Divorce - Pennsylvania
More details to this question:
how will my value to business be determined and if i can prove i generate all profit from business will this be reflected in settlement when i compensate spouse for turning business over to me. The llc for business and real estate of business is in wife's name only. i run business 100% and generate all profit and work full time on business avg 60 hours a week. She has full time job and devotes a few hours a week doing light bookkeeping at a value of $200 a week. 1- how do i put dollar value on what my worth is to business based on profitability of business. 2- how can i use separation date in evaluating business as i have substantially increased value since separation
1 ANSWER
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You cannot value your own business. I mean, you can certainly put a value on it, but it's only your opinion. The best thing for you to do would be to hire a forensic accountant to value your business as of the date of separation. Marital assets are valued as of the date of separation.
Answered on Mar 10th, 2015 at 1:29 PM