Using Tax Returns to Develop your EDL & Support Case (2015)
Total MCLE Credits 7.0: Professional Practice 2.5, Skills 4.5
Whether you are just beginning a family law practice or are a more experienced matrimonial lawyer, the first step in knowing the economics of your equitable distribution case is understanding the parties’ financial and business profiles from personal and business tax returns.
In this basic-to-intermediate level program, CPAs who have much experience as valuation experts in equitable distribution cases will offer insight into: 1) what the tax returns and their schedules may tell you, 2) the hidden “gems” within them, and 3) what the lawyer may be overlooking but should be asking for, all of which can make a critical difference in your case.
The lawyers on the faculty, experienced matrimonial litigators, will complement the CPAs’ observations by highlighting throughout the program why you must read and understand the tax returns, and the practical approaches you as lawyers should take to better serve your clients and to hone your strategy for dealing with a case’s financial issues. Among the recurring, sometimes knotty areas to be considered are:
• When and how to request tax returns
• What the tax returns can tell you about the parties’ assets
• How to use the tax returns to “size up” a
• Determining whether to value a business and are
there alternatives to a formal business valuation?
• How deeply must the lawyer understand business tax returns and where to go to learn more
• Being sure you have the tax returns filed with the taxing authorities and much more!
Stacy P. Collins, CPA/ABV, CFF, Financial Research Associates, New York City
David L. Gresen, CPA/ABV/CFF, CFE, Klein Liebman & Gresen, LLC, Syosset
Adam John Wolff, Esq., Kasowitz Benson Torres & Friedman LLP, New York City
Total Credits: 7.00 | Areas of Professional Practice: 2.50, Skills: 4.50
Areas Of Professional Practice Credit(s):