Tax
Nov. 17, 2022
Tax wise, should you settle cases in 2022 or 2023?
The best solution to many of these dilemmas in a case settling near the end of the year is to think about it and specify what you and your client want before your client signs.
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.
The end of the year brings all sorts of tax issues. Classically, tax lawyers suggest that you should try to accelerate tax deductions and to defer income where you can. So, if you are going to write a big check to your favorite charity, doing it in December seems better than January. (Of course, donating appreciated property at year end is an even smarter tax move, getting a tax deduction for the market value of the property, without ever having to pay the capital ga...
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