Welcome Guest. Register Now!  

LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-18-2010, 07:00 PM
Junior Member
Join Date: Feb 2010
Posts: 1
lawsuit employment breach of contract

What are my tax liabilities in the following case;
I settle for $50000, my attorney is entitled to one third.
Do I pay tax on the $50000 then pay the attorney one
third of the $50000, or pay the attorney then pay taxes on
the remaining amount after attorneys fees?

Last edited by eddie3555 : 02-18-2010 at 07:05 PM. Reason: mis worded

Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Unrecoverd investment in an annuity contract Dave101 Income 0 02-14-2010 01:26 PM
Eminent Domain Lawsuit Won, How will it be taxed Bdowd625 Income 0 01-30-2010 05:12 PM
How do you reduce you Interest Income from a contract for deed? paseaj Miscellaneous 0 01-26-2010 08:03 PM
Contract Job in another State gochoo Income 0 03-15-2009 04:10 PM
TAx write-off of uncollected lawsuit wkfan Miscellaneous 1 02-14-2009 12:01 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 » Income
 » IRA/Sep
 » Medical
 » Payroll
Forum for CPAs
Financial Planning