Income and spousal or child support
In family law, the concept of income is extremely important when addressing the issue of support whether we are talking about spousal support or child support.
There is this misconception that one’s income is defined by line 150 of a tax return. For a self-employed individual or a person earning money via investments or corporations generally, the last factor in determining that person’s income is his or her tax return.
This concept is well known to Judges and the experienced family lawyers. Marc J. Coderre, family lawyer based in Orleans, has 29 years of experience with such issues and can provide valuable advice on this subject.
In summary, and for a self-employed individual or an individual earning money through a corporation, the courts and the lawyers will carefully review the financial statements and the tax returns to determine whether or not line 150 of the tax returns fairly reflects all of the income available to him/her.
The law also specifically provides that the Court can add back to a person’s income personal expenses claimed to reduce corporate income or self-employment income.
The point is to consult a lawyer with experience in this field to properly understand the issue of income and support obligations.
Marc J. Coderre (family lawyer based in Orleans and Beacon Hill) offers a free 30-minute initial consultation in family matters.