Why Aren’t More Attorneys Utilizing the Fee Deferral Programs?
April 11, 2024
Childs v. Commissioner, 103 T.C. 634 (1994), forms the legal basis for attorney fee deferral and outlined several benefits for attorneys who defer legal fees. The case involved an attorney who had deferred a portion of …
Reduction of Taxation of Contingent Attorney Fees – A Comprehensive Guide
September 14, 2023
Introduction
Trial lawyers typically have large swings in their income based on the cases that settle in a calendar year. Unfortunately, it is hard to control the day a settlement will occur or when the settlement will …
A Unique Opportunity for Contingent Fee Lawyers to Tax Plan for Tomorrow
November 10, 2022
By Jason D. Lazarus, J.D., LL.M., CSSC, MSCC
An often-overlooked issue for plaintiff attorneys is the management of taxation of their own contingent legal fees. As part of the normal rhythm of their practices, many attorneys experience …
Don’t Forget to Protect Your Fees from the Tax Man
March 11, 2021
Trial lawyers have been deferring fees into structured settlement products dating back to the early 1990s. The IRS challenged fee structure arrangements in Childs v. Commissioner.[1] In this seminal 1994 …
Unique Planning Tool to Defer Taxation of Contingent Legal Fees
May 13, 2020
An often-overlooked issue for plaintiff attorneys is the management of taxation of their own contingent legal fees. As part of the normal rhythm of their practices, many attorneys experience peaks and valleys with their own personal income. …
Reduce Taxes and Save for Retirement with Attorney Fee Deferrals
Reduce Taxes and Save for Retirement with Attorney Fee Deferrals
A few months ago, a trial attorney in New York City had just settled a big case. He was like a lot of people reading this article; well-respected, successful, hardworking. …
Do You Want to Retire With a Six-Figure Pension?
According to Yahoo Finance, in 1998 59% of Fortune 500 companies offered traditionally defined benefit pension plans to new hires. However, by 2017 Yahoo reported that only 16% of those same companies offered a traditional defined benefit pension plan. Defined …
Attorney Fee Deferrals: The Time is Now to Defer Taxation of Contingent Legal Fees
Investing your fees in a pre-tax and tax-deferred attorney fee deferral program is a very smart way to plan for the future. Attorney fee deferral programs are created for a variety of reasons. Based upon your specific planning needs and …
Defer Taxation of Your Legal Fees and Take Control of Timing of Income
Many attorneys have questions when it comes to how to avoid the spikes in income and the accompanying taxation common with contingent legal fees. There are custom tailored solutions for attorneys who work on a contingent fee basis to avoid …
5 Ways Lawyers Can Maximize Their Wealth By Deferring Fees
Leif Lundberg, LL.M and Ben Eisler, JurisPrudent Deferral Solutions
Takeaways
- Defer compensation like Fortune 500 executives do, so your money grows faster.
- Tie your fee to the returns of investments that you select – stocks, bonds, real estate, etc.
- Gain
