ACCOUNTING SERVICES

We provide scalable accounting services for businesses of all sizes. Call us today for a free consultation to find out how we can help. Mecham, Dicus and Company is you premier choice for Accounting services whether you are here locally in the Las Vegas area or anywhere in the world. If you are looking for an experienced US based firm, then look no further.

BUSINESS CONSULTING

We provide a comprehensive range of services in the areas of financial management, operations, risk management, strategy and technology. We offer a customized approach to our services that's based on your needs. Additional business services include: Bookkeeping, CFO Services, Cash Flow Management, Strategic Business Planning, Tax Strategies, and more.

TAX SERVICES

We can assist in managing and minimizing all aspects of our client's tax liability, including, but not limited to, Federal, State and transfer taxes. Advance planning results in substantial benefits and allows time for developing alternative tax strategies. We also provide businesses period-end closing, financial statement preparation and budgeting on scheduled.

Can My Wife or Husband Take Half My Small Business in a Divorce in Ogden, UT?

Going through a divorce can be a devastating process. One thing that can make the process even more excruciating is to have built your small business from the ground up and knowing that it is considered an asset that will be divvied up with your former spouse. If you aren’t careful, you can also end up getting stuck with extra taxes when it is all said and done as well. Mecham Dicus & Company is here to share some tips to hopefully help the process be a little less painful for small business owners.

Take Advantage of the Tax-Free Transfer Rule

One of the silver linings that you can find when splitting up your assets and business is that there is a tax-free transfer rule you should take full advantage of. This means that ordinary income assets that are things like inventory, vested stock options, capital gains assets and even just cash can be split up without any immediate taxes being due. Also, in the future, if your ex-spouse decides to sell any of the stocks, you won’t be liable to pay capital gains on them, your ex-spouse will. You just need to make sure they are made “incident to divorce.” This means that they are done within the year that the marriage ends or are outlined in the original divorce agreement and done within 6 years.

Retirement Accounts

Retirement accounts are considered a little differently when it comes to the tax-free transfer rule. You could end up paying taxes on the money that goes to your ex-spouse if you don’t include a qualified domestic relations order (QDRO) in the divorce papers. This will make them responsible for paying taxes on any income that comes from annuity, pension payments or withdrawals.

Your Tax Status Will Change Right Away

If you have gotten divorced anytime during the calendar year, you need to be aware that your filing status has changed to single throughout the entire year. This is important to ensure you don’t file something wrong and get stuck with penalties. If you have kids, only one of you can claim them on your taxes. Working with your former spouse to divide that up to where you can at least claim one child will help you avoid a tax impact taking you by surprise.

Tax Preparation, Filing, Planning & More in Salt Lake City, St. George, West Valley City, Provo, Orem, West Jordan & Greater Cedar City, Utah

If you have gotten divorced in the past year, it will be well worth your time and money to consult with an accountant to help you keep everything straight. At Mecham Dicus & Company, we can help you sort out all of the details when it pertains to your small business. We can help you divvy up all the assets so that any potential taxes are taken into account and the split is truly an equitable one. While many people think lawyers are the only ones that help during a divorce, the help of an accountant shouldn’t be dismissed. Call us today!

Accounting, Consulting & Tax Services in Greater Las Vegas NV, Cedar City UT, Seattle WA, San Francisco CA, Milwaukee WI & More