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Ten Ways Your Husband Can Hide Money Through His Employment
(provided by Ann O'Flanagan, Esq.)
Perhaps your husband is not hiding money but a review of this information will help you find the answer. The ten areas listed below have been used many times. The more devious the individual, the more likely that he is hiding money. If your husband has lied to you about money issues, then there is a good chance that he is hiding money through his employment.
Many men complain about their poor financial situation in the hope that he will persuade his wife, her lawyer and the Court that he has no money. Recent studies indicate that shortly after a divorce the husband's finances soar upward and the wife's finances fall through the basement.
By hiding money your husband may hope for a lower child support and alimony award. It is your job and that of your attorney to uncover any hidden moneys and to prove the actual amount of money that your husband has available to him for purposes of support and alimony. The categories listed below will give you a starting point for finding hidden income and assets.
The following list will help you check out the probability that your husband may have a special arrangement with his employer.
1.SALARY DEFERRED UNTIL AFTER THE DIVORCE.
Your husband may defer a part of his salary under after the divorce. Look for letters or notes asking someone to defer his income. Look at past history of your husband's earnings. If he is accustomed to receiving $50,000 per year in commissions and suddenly he's not receiving any money, this is a fact. Your attorney can use this information.
2.EXPENSE ACCOUNTS AND OTHER "PERKS."
"Perks" refer to benefits over and above direct compensation that a company may offer its employees. Some companies offer very little to none, while other companies' perquisites are so valuable that they almost equal the salary being paid. Some of these ""perks" are as follows:
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(A)A company car for personal use.
Your husband may be alleging that the company provides the car for business use only and if he uses it for personal use, he must pay back the company.
(B)Paid parking space.
Some companies pay all or a portion of their employees' monthly parking rates. Your husband may tell you that he pays his own parking expenses. He may even pick up parking receipts off the floor of the parking garage or make a deal with one of the parking attendants to give him extra receipts.
(C)An expense account.
Expense accounts range from small to large. Your husband may have an expense account to take customers to fancy restaurants, sporting events and other, areas of entertainment. Look at the documents to see whether he is taking clients to Burger King or other inexpensive restaurants and keeping for himself a portion of each weekly expense account. Your husband may charge all or most of his meals to his employer and tell you he is paying for his food and expenses.
(D)Meal allowance.
Some salesmen may be allotted a "'meal allowance" when they are on the road. For example, one husband received approximately $15.00 per meal when he was on the road. Instead of eating three meals he had three pre-mixed diet drinks costing $1.50 each and he pocketed his meal allowance ($45.00 per day).
(E)Clothing and uniform allowance.
Your husband may be telling you that he has to buy his own uniforms and have the cleaned, when in fact, this is done for him as one of his "'perks."
Some men receive bonuses in addition to their net pay. Look for deals where partial bonuses are paid and the other portion is put into a separate account accruing to the benefit of the employee. Bonuses can be deferred for future distribution. Look for a pattern of bonus payments in the past.
4.VACATION OR BUSINESS TRIP.
Does your husband's employer pay for days at hotels when the business part of the trip has been completed? Some men are allowed to take their wife on the business trip. Check to see whether his girlfriend was a guest. Your husband's employer may allow him to use a summer home or other "get away" owed by the business.
5.VACATION PAY.
If your husband gets four weeks vacation and only takes two weeks off he may receive two weeks additional pay.
6. SICK DAYS/PERSONAL DAYS.
If your husband does not use his personal days or sick days he may get paid for the days he doesn't use.
7.STOCK OPTIONS.
A stock option is the right to buy stock in that company at a reduced rate. If your husband exercises the option he may have a valuable asset which you are not aware of. He may even tell you he did not exercise the option and he "lost it". Options whether exercised or not can be very valuable.
8.COUNTRY CLUB AND HEALTH CLUB.
Your husband may tell you that he pays for these expenses, but his employer either pays directly or reimburses your husband.
9.LOAN.
If your husband wants to increase his debts and look "poor", he may create a loan with a friend, an employer or a family member. He may not have to pay it back but he will tell you that he owes this money.
10.SPECIAL ARRANGEMENTS WITH HIS EMPLOYER.
You are looking for possible signs that your husband may have a special arrangement with his employer in the working place. For example, his employer pays some of his personal expenses or pays him a percentage of the profits. Also check whether your husband actually owns a percentage of the company he works for and is, therefore, not an employee but an owner/employer.
Information provided by:
Ann O'Flanagan located at
http://www.divorcesource.com/NJ/oflanagan.html
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