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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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  #11 (permalink)  
Old 11-09-2016, 09:50 PM
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Sorry line 102 - she puts 5K. Line 102 says (Commissions included in line 101)
There is nothing on line 139 for her.

She works in new home sales, she works from a showhome. I don't anything about setting up an unincorporated business so you're saying she's reporting the commissions on that separately.
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  #12 (permalink)  
Old 11-09-2016, 09:55 PM
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Now we're getting somewhere. The 10,000 is as an employee of which 5,000 of that 10,000 is commission income. She may write off expenses on Line 229 employment expenses. As for the 60,000 in commission statements, does it say who they are paid too? If it is a corporation, then she has corporate income as well. Sounds like she is self employed and an employee.
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Old 11-09-2016, 09:57 PM
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The commission statements are to her name, not a corporation. So you're saying then nothing fishy is going on? That she legally did it right and even though she said she makes 60K, her actual income should be calculated at 10K after expenses.
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  #14 (permalink)  
Old 11-09-2016, 10:09 PM
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Are you sure the 60,000 isn't the value of the product she sold? And maybe she gets like a 10% commission on that product sold plus a base of 5,000?

Right now it's sounding like she only makes 10K per year.
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Old 11-09-2016, 10:21 PM
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First, thanks for taking the time to answer this stuff.

She sells new homes, so typically the houses aka product are around the 450 to 600K range and she gets commission of those, so the invoices range from 5K to 8K off each house she sells.

I guess what is dubious is why state in court back in April that you made 60K in 2015...versus saying my salary is 10K right from the start. See where I am going with this.



Quote:
Originally Posted by Desperate_Dad View Post
Are you sure the 60,000 isn't the value of the product she sold? And maybe she gets like a 10% commission on that product sold plus a base of 5,000?

Right now it's sounding like she only makes 10K per year.

Last edited by FirstTimer; 11-09-2016 at 10:24 PM.
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  #16 (permalink)  
Old 11-09-2016, 10:27 PM
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ok so she might work for Re-Max or somewhere to that effect. Real estate agents should get a decent commission on the sale - even 2% of 400,000K can be 8K. I would ask her if she is incorporated and if so, ask for her corporate income statement and balance sheet.
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  #17 (permalink)  
Old 11-09-2016, 10:32 PM
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She's in new home sales, so she works for a specific builder if that makes a difference.

So you would recommend that I need to further investigate this then. What would I be looking for? and if she is not incorporated...what would be your conclusion

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Originally Posted by Desperate_Dad View Post
ok so she might work for Re-Max or somewhere to that effect. Real estate agents should get a decent commission on the sale - even 2% of 400,000K can be 8K. I would ask her if she is incorporated and if so, ask for her corporate income statement and balance sheet.
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  #18 (permalink)  
Old 11-15-2016, 08:27 AM
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I would ask for for an explanation of the commission receipts and why only a small fraction of that appears on her tax return.

The commission can seem large but there are expenses she can write off of that being a real estate agent.
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  #19 (permalink)  
Old 11-17-2016, 07:33 PM
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Only legit possibility I can imagine is perhaps (as somebody suggested) her income is being run through an incorporated business and the line 101 income represents the T4 she has issued herself from the corp. I believe if she has an incorporated business she may also need to provide financials for that biz. I have certainly provided them on many occasions for clients' matrimonial purposes.

OP indicated she provided a copy of the "filed tax return". Was is a copy of a return or Notice of Assessment?? What you want is BOTH of those that match.
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