Pay your taxes
Buddy of mine got divorced. He had a contracting business and was doing quite well.
During the divorce proceedings they decided to sell the business and divide the proceeds. They sold it for over $2 million, and she got 60% in lieu of alimony.
Well, the selling of the business triggered a tax audit and when all was said and done they owed over $700,000 in back taxes and penalties.
Back to court they go.
He claims, “Since she took 60% off the business she should take 60% of the debt. The judge agreed with him.
Unfortunately for her, she had pretty much spent all the proceeds from the divorce and now owed $420,000 to the government, plus accumulating interest.
| Anonymous
Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171