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 …
The Economics Behind the Highest Paying Structured Settlements
September 30, 2021
Josh Pettingill, MBA, MS, MSCC
All structured settlements are not created equal. There is a strong possibility you are leaving money on the table for your client with your existing settlement consultant or worse, relying on the …
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. …
