The Tax Consequences of Legal Settlements Webinar

Summary

Lawsuits can create a stressful situation for your client - no matter whether they're the ones doing the suing or being sued. If they walk away with a check, it is your job as their tax preparer to determine if the amounts are taxable. The first step to determining this is to figure out if any of the lawsuit or settlement proceeds constituted punitive damages. More often than not, all punitive damages are taxable whether received in relation to a physical or non-physical injury or sickness. During this webinar we will address how to make this determination, as well as where you can deduct the legal fees incurred by your client.

Objectives

Upon completion of this course, you will be able to:

  • Determine whether a settlement is taxable.
  • Identify when a settlement is not taxable.
  • Accurately deduct legal fees.

Course Details

Our researchers will answer your questions during the presentation. This webinar includes the presentation slides, Q&A transcript and access to the webinar recording.






   

Presented by: Genaro Cardaropoli, CPA

​​​​​How to Earn CPE

​To receive full credit for a webinar, you must respond to at least 70% of the polling questions that are asked by the instructor during the webinar and you must be logged in for at least 90% of the presentation.

Please allow up to 7 days for us to verify attendance and issue certificates.

Cancellation Policy

Because this is an online education offering, it is nonrefundable.

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