Attorney Fee Deferrals

This Tax Law Allows Personal Injury Attorneys to Defer Their Legal Fees

Personal injury attorneys and other contingency fee-based professionals often wonder why deferring fees is exclusive to contingency-fee based attorneys. Contingency fee-based attorneys can defer their legal fees because of a case law that provides the precedent for...

Flow of 1099s When Using a Deferred Compensation Plan

Common questions we get from attorneys who are interested in deferring their contingent legal fees include:  “How does the flow of 1099s work when I use a deferred compensation plan?”“Would the IRS think I’m under-reporting my income?” When attorneys opt to defer...

Exploring the Loan Feature of Deferred Compensation Plans

Many attorneys are not aware that if they defer fees into their deferred compensation plan, there is an option offered by the plan administrators to take a loan if they need access to capital. For example, let’s assume an attorney has deferred $500,000 into his or her...

Using Deferred Compensation Plans as a Wealth Transfer Tool

One of the most common questions that we get regarding attorney fee deferred compensation plans is: "What happens to my plan once I pass away?” This article discusses some of the options available in the event that you pass away while funds are still in your deferred...

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