Tax
Feb. 7, 2017
Tax Rules for Settlements and Judgments
Whenever you resolve a case, think about the tax implications. A little foresight can save a lot of money.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Lawyers and clients resolve disputes all the time, usually with an exchange of money and a release. Of course, almost any time money changes hands, there are tax issues too--usually for both sides. However, most lawyers take a hands-off approach: they simply tell their clients that they are not tax advisers and that it is worth seeing a tax lawyer or good accountant to get straight on the tax implications.
Yet after such a disclaimer, some lawyers succumb to the temptation to off...
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