This piece is designed to help you better understand how to navigate tax returns on behalf of your clients. Why? The information contained in tax returns can provide support for marital assets and liabilities, sources of income, business ownership(s), and can lend cause for further analysis. Reviewing multiple years of tax returns and accompanying supplemental schedules may provide helpful information on trends and/or changes and could indicate the need for forensic investigations.

We know you are not a forensic or finance specialist but in your role as a family law attorney, understanding the tax returns schedules, disclosures, and why that information is important can be valuable. That is what this short piece provides you. Form 1040, Schedule A (Itemized Deductions), Schedule K-1 and other relevant business-related schedules are addressed in this short, easy to read and easy to understand piece. We hope you will find this a handy reference that will become a well-worn resource in your practice.

Mercer Capital is a national business valuation and advisory firm providing subject matter and industry-related expertise in financial, valuation, and forensic services. You’ll find more information about our national litigation team in this piece and here. When your clients have business valuation and/or forensic needs, please don’t hesitate to contact us.

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