
Taxable Damages Cases: How Plaintiff Attorneys Can Double (or Triple) Their Client's After-Tax Net Recovery
- E98
- 41:50
- November 6th 2023
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Since the Tax Cuts and Jobs Act of 2017, plaintiffs have been taxed on the full gross recovery in cases not based on personal injury (including the attorney fees). We call this the Plaintiff Double Tax Trap.
This special episode shares a powerful tax planning strategy that can help clients avoid paying the Plaintiff Double Tax Trap — which can double or triple the client's after-tax net recovery.
Contact Greg Maxwell at (801) 683-7362 or at [email protected] if you have any questions about this podcast episode.
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Settlement Planning Tips for Personal Injury Attorneys
The Settlement Planning Tips for Personal Injury Attorneys podcast helps PI lawyers navigate the unique legal and financial issues that arise near the settlement of a PI case.
Each week, join Greg Maxwell, JD, CFP® of Amicus Settlement Planners, as he answers commonly asked questions and shares practical pointers to maximize the client's recovery while minimizing the lawyer's liability.
This attorney-to-attorney podcast discusses government benefits planning, special needs trusts, structured settlement annuities, lien resolution, Medicare Secondary Payer Act compliance, income tax reduction strategies for attorneys, and more!