Personal Injury Cases: Increasing Net Settlements Through Tax Savings
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will discuss the tax consequences to plaintiffs of personal injury settlements and damages and how knowledge of those tax considerations drives the parties' strategies during the case. The program will guide counsel through the right questions and the right professionals to engage to prevent the client from incurring unnecessary tax liability or inadvertently losing favorable tax treatment. The panel will review how to avoid malpractice and ethical pitfalls and offer insights into the tax considerations of the party paying the settlement.
- Taxation of settlement awards
- Tax language in settlement agreements
- Strategies to make settlements tax-free
- Strategies to reduce tax liability
The panelist will review these and other key issues:
- Do personal injury lawyers have a duty to minimize taxation of personal injury settlements?
- What terms are most hotly negotiated in personal injury settlement and release agreements?
- Are specific, itemized verdict forms useful in managing the tax consequences of the award?
- Should cases be planned and litigated with taxes in mind?
- Which state's tax laws apply to the award?
Special Tax Counsel
Mr. Babener is a nationally recognized tax attorney who focuses his practice on lawsuit awards, settlements and complex... | Read More
Mr. Babener is a nationally recognized tax attorney who focuses his practice on lawsuit awards, settlements and complex structures.Close
Deborah Hresko, CPA
C&L Value Advisors
Ms. Hresko has over 20 years of experience as a CPA, beginning her career with KPMG. She advises plaintiffs and... | Read More
Ms. Hresko has over 20 years of experience as a CPA, beginning her career with KPMG. She advises plaintiffs and plaintiff counsel on a range of tax and accounting issues.Close