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Avoiding the Plaintiff Double Tax

Jeremy Babener
Jeremy Babener
Structured Consulting

Jeremy consults for plaintiffs and plaintiff lawyers on settlement issues. He serves on the legal committees of the three national settlement planning associations, and previously served in the U.S. Treasury’s Office of Tax Policy.

Greg Maxwell
Greg Maxwell
Amicus Settlement Planners

Greg Maxwell, Esq., CFP®, advises plaintiff firms across the country on settlement planning, special needs planning, and income tax planning. He previously served as President of the Society of Settlement Planners.

On-Demand: November 7, 2023

$95.00 1 hour CLE

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Program Summary

Since 2018, many plaintiffs have overpaid tax in their cases. Due to a change in tax law, plaintiffs have lost the ability to deduct legal fees, causing them to be taxed on the fee portion of their settlements. This is true in most cases with taxable damages, including emotional distress, defamation, harassment, interest, or punitive damages. Trust options can avoid the double tax, but only if used before settlement. This presentation will walk through everything plaintiff lawyers need to know to help their clients avoid the plaintiff double tax.

Key topics to be discussed:

  • Effect of the plaintiff double tax
  • When and how it applies to plaintiff cases
  • Solutions and steps plaintiff lawyers can take

Date / Time: November 7, 2023

Closed-captioning available

Speakers

Jeremy-Babener_Structured-Consulting_myLawCLEJeremy Babener | Structured Consulting

Jeremy consults for plaintiffs and plaintiff lawyers on settlement issues. He serves on the legal committees of the three national settlement planning associations, and previously served in the U.S. Treasury’s Office of Tax Policy.

 

Greg Maxwell_myLawCLEGreg Maxwell | Amicus Settlement Planners

Greg Maxwell, Esq., CFP®, advises plaintiff firms across the country on settlement planning, special needs planning, and income tax planning. He previously served as President of the Society of Settlement Planners.

Agenda

I. Effect of the plaintiff double tax | 2:00pm – 2:20pm

II. When and how it applies to plaintiff cases | 2:20pm – 2:40pm

III. Solutions and steps plaintiff lawyers can take | 2:40pm – 3:00pm

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