Important Settlement Planning Tip for Lawyers
to Avoid Unexpected Tax Hit
Safe Dating Practices for Trial Lawyers
Lawyers structuring attorney fees may wish to avoid having payments that are scheduled to be paid during the first few days of January if payments are made by mail. Some insurance companies mail payments 5 or more days in advance of a due date in a best effort to meet their contractual obligations and if that due date falls on January 1, a holiday, payments will be made in December, instead of January, and you will receive an extra month ( or other mode of payment) in your 1099!
For best dating practices, consider the date of your first payment of the New Year to be at least 10 business days into January.
Read more about Attorney Fee Deferrals and Structured Attorney Fees or contact 4structures’ President John Darer directly at 888-325-8640.
