If you are a small business owner and going through a divorce, you will complete the FL-150 Income & Expense Declaration slightly differently. First, you will not state your income on page 1 where is asks for employer information, rather you will use page 2 where it talks about business income.
I have found that many small business’s don’t keep monthly records up to date. So what do you do when you need to provide evidence of your income. Well, you are going to have to create a profit and loss statement.
This could be as simple as you going through your finances and using excel to show your income, cost of goods and expenses line item’d out so that it can be determined what you net income was each month. At a minimum you will likely need to do this for at least the last few months if going through a divorce in California for anything where you need to show income such as when one spouse is asking for spousal support.