Don’t Lose Your Settlement Money to Taxes

Often a plaintiff will walk out of a lawsuit with a settlement agreement only to find the majority of it gets paid in taxes. Unless you work the settlement correctly, an individual may only end up keeping 30% of the amount they agreed on. Tax attorneys can specialize in improving legal settlement agreements by ensuring that their clients receive the proper tax form from the government. They can also help by creating strategies to which that allow their clients to deduct contingent litigation fees which sometimes can be as much as 40% of the total settlement amount.

Source: Youtube