What documents must be obtained in a divorce proceeding when your forensic accountant needs to evaluate and investigate the income of the parties? In the below video, Tracy Coenen lists some of the basic documents that are needed to analyze wages, self-employment income, and investment income.
Tracy Coenen talks about the steps she takes when she starts a new expert witness case. What documents should you ask for? What should you evaluate first?
Bank statements can be invaluable in evaluating an individual’s income for divorce and child support cases. They can help evaluate the person’s income, but an analysis of the expenditures is important too. Tracy Coenen talks about some of the specific ways the data can be analyzed.
Tracy Coenen talks about some of the common ways spouses “abuse” financial items during the divorce process. These things include manipulating salary, selling assets to related parties, and more.
Tracy Coenen talks on CNBC about the top five tax scams that consumers should be aware of.
Tracy Coenen on CNBC, talking about business opportunity scams and multi-level marketing (MLM) schemes. Consumers beware!
Family lawyer Miles Mason explains how he uses a lifestyle analysis prepared by a forensic accountant in a divorce case.
Tracy explains the purpose of a lifestyle analysis in a divorce case, and the process used to analyze the family’s finances. The lifestyle analysis may be used to determine how much money is required to continue living the lifestyle the parties had while married. It may also be used to find hidden income or hidden assets, and Tracy discusses how she may uncover these items.
Bill Ackman and Pershing Square produced an educational video about multi-level marketing companies and how and why they are pyramid schemes. Yes, I often hear:
- “Pyramid schemes are illegal!”
- “If XYZ Company was a pyramid scheme, the government would shut them down!”
Yes, pyramid schemes are illegal. No, our government generally doesn’t shut down pyramid schemes masquerading as multi-level marketing.
Forensic accounting is sometimes called investigative accounting. There is a fairly wide variety of cases that can be done by a forensic accountant, with all of them having something to do with fraud or litigation. Tracy Coenen talks about some of the most common types of cases in which a forensic accountant will be called in.