Divorce is is always difficult for everyone involved, but it can be much more complicated when one or both spouses own a business. Your business is probably the most important asset you own, however issues arise when it comes to the division of property. Self-employed professionals normally own a personal service practice that often has very little to sell. The biggest problem is that aside from certain office assets, one cannot divide and sell a reputation.
Compensation is another area not always clearly defined as a business owner. For instance, you cannot commingle a salary and accounts payable–a calculation must defer to one or the other. The issue can be further complicated with shareholder loans, buy-sell agreements or any partnership arguments. After all of these things are taken into account, depreciation and other tax issues have to be considered.