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Tax Deductions Punitive Damages

Buckingham, Doolittle & Burroughs, LLC

Is Your Lawsuit Tax Deductible? | How to know when it is, and isn’t, deductible

The costs associated with hiring attorneys, defending a lawsuit, and paying for damages or a settlement can be exorbitant, and will inevitably damage a company’s profitability. The good news is these payments are often tax...more

Gerald Nowotny - Law Office of Gerald R....

Trial Attorney Tax Summary for Taxation of Settlements and Damages – Part 2: Punitive Damages

Overview - Part 2 of this series focuses on the payment of punitive damages. One component of the equation focuses on the receipt of punitive damages by a plaintiff. The second part of the equation focuses on the...more

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