New child

[Wyntermcd]

I had an accountant take a look at all the finances last year to see just where the business was at. So I have a rough idea of what the amounts owing are going to be. After finding out what the situation was Iwas reluctant to start that ball rolling at the time (last year was a really bad year financially and we were struggling). This year has been better and would be a better time to focus on it.

I do half the work for the business lol but I just don't bother to take a pay cheque, it wouldn't change much and I didn't want to "officially" be a partner. If need be I could go work for someone else doing the same thing and I would make a decent wage (enough to support us both). I just would rather work with my partner.

[arabian]

So you have stepped into the former wife's role as bookkeeper but you don't get paid for it. You are engaged/married to someone who can't face reality of financial responsibility and you are on this forum to get advice for him? That's taking "stand by your man" to a different level.

I suggest you review all of your posts and the advice that has been given to you.

You are looking for the ex wife to pay for you and your husband's financial mismanagement. That is what I surmise of this situation.

Some people are very good at what they do but they are simply not business material. You probably already know that. I suggest you consider getting some counselling and start making some wise decisions for yourself and your future.

Good Luck!

[Wyntermcd]

No, I'm not te book keeper. I know enough to know that I wouldn't be very good at that part lol except in the basic, keep all receipts etc. I literally do half the actual work for the company.

Maybe your right and I'm taking the whole concept of stand by your partner a bit far, but if I am, I am doing so by choice and knowing the consequences. I read all the posts on here and yes do ask for advice because I prefer to know what the options are and I hate being surprised by things lol. I'd rather know about what possibilities exist and what options are.

I didn't see it as I was looking for her to pay for our financial mistakes, I realize ignorance is not a valid excuse but I'm trying now to educate myself about what his financial obligations are. There is a part of me that resents that he has to pay don't get me wrong lol but I think it's a small part and in general I don't think I allow it to get to me too much.

For counselling yes, I've been getting some regarding business and finances. Fortunately I'm still young enough that I can make financial mistakes and still recover from them. I do actually have a plan for dealing with the finances, slowly and over time.

As a side note, I got the impression from this last post that you think poorly of me for what I'm doing and asking, but so you know I have actually enjoye the back and forth between us, and you have helped me to look at these things a little different.

[arabian]

I hope you do look at things objectively because that is what a judge would do.

Your husband and his ex have an agreement where they will exchange financials every year. That has not happened. Before any review or change were to be allowed in court, the financials would have to be examined. If you want to help your husband I would strongly recommend you encourage him to get his financial information up-to-date. Until he is current on his tax filing it is doubtful that that any court would consider reviewing the SA agreement.

I don't know you personally and make my assumptions based upon what you have posted.

[arabian]

If your husband does not file his income tax return, and has taxes owing, CRA can seize his bank account. If he tries to shelter money under your name they can also seize your account. The same goes for GST/HST. I wouldn't mess around with this if I were you. Your husband can make payment arrangement with CRA. I believe their position is it's better to get something rather than nothing.

[Wyntermcd]

I try to look at things objectively, I find this forum quite helpful for that aspect. It's not easy though because I'm obviously biased lol again that makes this forum a good sounding board.

I think in the back of my head I knew that the financials would have to be dealt with before any changes occurred, but sometimes having things pointed out makes it more clear. And it makes sense that you can't reasonably expect to change anything without the pertinent info.

I only mentioned that last bit because I didn't want to come across as one of those people who when they post, they get all defensive when they don't hear what they want from others. Again the back and forth between you and I has been quite helpful for me. (Though if I had heard the magic answer of no he doesn't have to pay SS it would have been the best Xmas present ever LOL!!!)

[Wyntermcd]

I know about the CRA thing too, I am somewhat fortunate in that my sister had something nearly identical occur with her husbands family business, so I'm tryin to do exactly what they did to recover from the situation.

[stripes]

If your husband does not file his income tax return, and has taxes owing, CRA can seize his bank account. If he tries to shelter money under your name they can also seize your account. The same goes for GST/HST. I wouldn't mess around with this if I were you. Your husband can make payment arrangement with CRA. I believe their position is it's better to get something rather than nothing.

^^^ this is exactly what happened to a friend of mine - her (now former) husband was an unsuccessful "entrepreneur", didn't file corporate taxes, and attempted to sequester his assets by putting her name on them (and to dilute his own exposure by making her a "director" in his unsuccessful company). She's now in hock to CRA to the tune of $56K and will need years and years to turn her financial situation around. Morals of story - never ever sign any financial document without getting a lawyer to go through it, even if it's coming from your spouse; never ever mix personal and business money; and if your husband/wife is the slightest bit shady about financial matters, that's a pretty big yellow flag (discovering the internet girlfriend in the Dominican Republic was actually what led to the divorce papers being served).