Structured attorney fees, or structured legal fees, are one of the few safe and well planned options for lawyers to defer taxable income from one tax year into future years, essentially income averaging. Given the Fiscal Cliff negotiations will likely lead to much higher marginal tax rates for upper income citizens, the ability to use a structured legal fee program to push money our of 2013 tax rates into future years where possibly rates are lower or more deductions can be used against the income is going to be a very appealing option in tax planning.
Mark Wahlstrom, President of wahlstromandassociates.com discusses the latest tax and financial planning options for lawyers and attorneys when it comes to using structured legal fee annuity contracts to defer income. Mark Wahlstrom is acknowledged as one of the nations leading experts in structured settlements, settlement planning and structured legal fees and his firm is available to consult or assist lawyers and their tax professionals in determining if these planning techniques make sense for their situation.
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