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The primary purpose of a tax return is for government entities to assess income taxes on the earnings of a business or individual, but in divorce, the role of the tax return is much broader and serves various purposes. Business and personal tax returns should be thoroughly analyzed before marital assets are divided and before income is set for the purpose of determining spousal maintenance and child support. If analyzed properly and creatively, they can help show whether: 1) there was financial irresponsibility; 2) income is much greater than appears on the surface; or 3) assets no longer exist that one spouse assumes still do exist.
Financial Irresponsibility
I was recently approached by a divorce attorney who was handling a litigated divorce that involved a custody battle for two small children. In addition to developing a picture of the husband's inadequate parenting, she wanted to make a case for his financial irresponsibility as well. He was the primary breadwinner and made most of the financial decisions in the marriage. The only documents I had available were 5 years of personal tax returns, the W-2 forms and the Statement of Net Worth. The husband and wife were both wage earners. They had been renting their apartment and were barely able to make ends meet. When her generous parents gifted them a sizeable amount of money to be used as a down payment on a home, they purchased an expensive residence, taking on a very high mortgage. This spiraled them into enormous debt, which they could not sustain. The final result was that both spouses had to file for personal bankruptcy.
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?