Tax
Feb. 1, 2003
Taxation of Attorney Fees Will Depend on Issue of Ownership
Focus Column - Tax Law - By R. Duane Westup, Mark Van Buskirk and Donald J. Winkler - In a contingency case involving a $1 million recovery, the client may end up with a net recovery of only $250,000 after paying attorney fees and taxes. Both plaintiff and defense counsel will find it beneficial to understand the tax implications of attorney fees that are paid out of damage awards to nonbusiness plaintiffs.
R. Duane Westrup
Westrup & Associates
444 W Ocean Blvd #1614
Long Beach , CA 90802
Email: jveloff@waklaw.com
Mark L. Van Buskirk
Donald J. Winkler
Tax Law
By R. Duane Westup, Mark Van Buskirk and Donald J. Winkler
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