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4 weeks ago

Contingent attorneys' fees. - Free Online Library

In Benci-Woodward, 219 F3d 941 (9th Cir. 2000), aff'g TC Memo 1998-395, taxpayers filed a California lawsuit against their former employer alleging, among other claims, false imprisonment, defamation, intentional infliction of emotional distress and wrongful discharge in violation of public policy. They also entered into a retainer agreement with their attorney, providing for a contingent fee arrangement and giving him a lien on any recovery in the case.



The jury awarded compensatory and punitive damages. The taxpayers initially excluded the punitive damages from income, but later conceded that the portion of those damages retained by them was taxable. However, they argued that the portion retained by their attorney as fees and costs should be excluded.



The Ninth Circuit held that the portion of the punitive damages retained by the attorney is taxable to the taxpayers. The court stated, "[u]nder California law, an attorney lien does not confer any ownership interest upon attorneys or grant attorneys any right and ,power over the suits, judgments, or decrees of their clients." The Ninth Circuit followed its previous decision in Coady, involving the same provision under Alaska law; see Tax Clinic, "Contingent Attorneys' Fees," TTA, October 2000, p. 694.The appeals court also concluded that the Tax Court correctly determined that these legal expenses are miscellaneous itemized deductions and, therefore, not allowable for alternative minimum tax (AMT) purposes. The taxpayers argued that "the AMT results in inequities to certain taxpayers." The Ninth Circuit responded that "such considerations, however, are more appropriately left for congressional resolution."



On Jan. 16, 2001, the Supreme Court denied certiorari in Benci-Woodward. Therefore, the taxability of retained legal fees depends on state law--which varies throughout the country; see Tax Clinic, "Attorneys' Contingent Fees," TTA, December 2000, p. 848.



In view of the Supreme Court's action (or inaction), a legislative remedy is essential. In the last Congress, Sen. Grassley (R-IA) (now Senate Finance Committee Chair) and then-Sen. Robb (D-VA) introduced S. 2887 on July 18, 2000 to provide such relief. However, this bill was not enacted into law. Hopefully, remedial legislation will be enacted soon.

FROM STUART R. JOSEPHS, CPA, TAX ASSISTANCE PRACTICE (TAP), SAN DIEGO, CA

4 weeks ago

Personal Injury Lawyer Salary

Although the Bureau of Labor Statistics states an overall growth of 10 percent in the employment of lawyers, the job outlook of personal injury lawyers seems to be quite promising. This is because personal injury cases generate a major portion of the total revenue earned by many law firms.

A personal injury lawyer is a litigation lawyer who specializes in personal injury law, also known as tort law. He or she is responsible for defending the grieved parties who have been injured physically or emotionally, or have suffered a property damage, due to a deliberate intent or an unintentional negligence of someone else. These cases involve automobile accident, medical malpractice, product l

4 weeks ago

The Panama Papers - Uncovers the Way Wealthy Persons Hide Their Money

Background

On April 6, 2016 and April 7, 2016, The Buffalo News had stories about the Panama Papers which explained this unusual circumstance which has been exposed in recent days.

It was revealed that vast wealth has been hidden by politicians and powerful persons globally, leading to criminal investigation on two continents.

4 weeks ago

Marketing For Law Firms Online - The Basics

Law Firm Internet Marketing

internet marketing" align="right" width="100" height="100">In today's world, we all know how powerful the internet can be. In fact, I think we would all concede that it is probably the most important vehicle for promoting a law firm, besides, of course, good old word of mouth. But, try to figure out how to maximize your law firm internet marketing efforts and you're probably going to make yourself go crazy. And you know you can't trust what you hear on the phone.

Well, I've got some good news for you. I'm an attorney. I understand how marketing for law firms on the internet works. And I'm going to tell you the basics today.

The most important thing to remember in your law firm marketing efforts is that Google and the other search engines want to put the best content at the tops of their pages. They don't care who it is or how it was produced, but when someone types in a search phrase, they want the question to be answered 100% of the time in the top five search results, and if not there, then on the first page.

Everything you are doing is trying to show Google that you are an authority figure that deserves to be in that first spot whenever someone searches for your keywords.

Let's take an example to see what I'm talking about. Let's say you are a personal injury attorney and want to learn more about personal injury practice marketing, so you type it into Google. What should come up is information on marketing a personal injury practice. Now, it might be businesses, but they are the best authority on personal injury attorney marketing out there.

The way Google determines who goes at the top is by content, and by links. Links are hyperlinks (the things you can click on that take you to other pages). When someone links from their site to your site, Google sees this as a vote for your site, and it tells what your site is about by the text of the link. So, if you were a personal injury attorney, you would want to get as many links as possible from all over the internet to your site with the text "personal injury attorney" in the link. Get enough votes and you start to move up the search engines.

The important thing to remember in your law firm marketing efforts is to learn a little bit about what goes on behind the scenes before you start paying someone to help you. That way you can make sure you are maximizing your dollars.

1 month ago

SHAREHOLDER ALERT: Goldberg Law PC Announces Securities Class Action Lawsuit against Universal Health Services, Inc. and Encourages Investors with Los



LOS ANGELES--(BUSINESS WIRE)--Goldberg

Law PC, a national shareholder rights litigation firm, announces the

filing of a class action lawsuit against Universal Health Services, Inc.

("Universal Health" or the "Company") (NYSE: UHS). Investors who

purchased or otherwise acquired Universal Health shares between February

26, 2015 and December 7, 2016 inclusive (the "Class Period"), are

encouraged to contact the firm in advance of the February

21, 2017 lead plaintiff motion deadline.



If you are a shareholder who suffered a loss during the Class Period, we

encourage you to click

here or contact Michael Goldberg or Brian Schall, of Goldberg Law

PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at

800-977-7401, to discuss your rights free of charge. You can also reach

us through the firm's website at http://www.Goldberglawpc.com,

or by email at info@goldberglawpc.com.



The class in this case has not yet been certified, and until

certification occurs, you are not represented by an attorney. If you

choose to take no action, you can remain an absent class member.

Buzzfeed released a report on December 7, 2016 revealing its lengthy

investigation into Universal Health, "...based on interviews with 175

current and former UHS staff, including 18 executives who ran UHS

hospitals; more than 120 additional interviews with patients, government

investigators, and other experts; and a cache of internal documents."

The report mentioned that "[c]urrent and former employees from at least

10 UHS hospitals in nine states said they were under pressure to fill

beds by almost any method - which sometimes meant exaggerating people's

symptoms or twisting their words to make them seem suicidal - and to

hold them until their insurance payments ran out." When this was

disclosed to the public, shares of Universal Health fell $15.01 per

share or nearly 12% to close at $111.36 per share on December 7, 2016,

causing investors severe harm.

Goldberg Law PC represents shareholders around the world and specializes

in securities class actions and shareholder rights litigation.

This press release may be considered Attorney Advertising in some

jurisdictions under the applicable law and ethical rules.

http://www.businesswire.com/news/home/20170110006131/en/SHAREHOLDER-ALERT-Goldberg-Law-PC-Announces-Securities

1 month ago

A Lawyer's Typical Day

A lawyer is a person who is authorized by the state or country to practice law, give advice to his or her clients and represent their legal matters in the courts. According to classes or ranks of jurists lawyers can be designated as advocate, attorney, barrister, counselor and solicitor. A lawyer has to study law and new laws on a regular basis to stay up to date in order to protect their clients. This is the basics of a career in law, protecting your client's freedoms and rights.

A Day In The Life Of A Lawyer.

1. Get ready to travel: Lawyers spend most of their time in offices and courtrooms. They travel to meet their clients wherever they are and homes, business places, even emergency rooms in hospitals and state or federal prisons can be a fairly regular visit depending on which area of the law a lawyer is involved. They also travel different places for meetings and to gather proof or evidence for their case that they can submit to the courts, legislative bodies, or to other high authorities of the law.

2. Irregular work hours may be the norm: Lawyers quite often have irregular work schedules and even work for several hours in discussing with clients or preparing the briefs of the case during non office hours.

3. Back to the studying board: A lawyer is also known as an attorney who acts both as an advocate and an advisor in society. The advocates represent one of their clients in criminal or civil trials by arguing and presenting evidence to the court to protect their client. On the other hand the advisors give advice to their clients regarding their business and legal personal matters. All the lawyers, whether an advocate or an advisor, have to research the purpose of laws and judicial decisions to apply them in the critical circumstances faced by their clients. The most important aspect is that a lawyer's job depends very much upon his or her own field of specialization and position. All this requires continual studying.

Types of Lawyers:

There are allot of areas to specialize in as a lawyer. This list is not exhaustive but covers some of the most popular fields you'll be able to specialize into if becoming a lawyer.

Immigration lawyer, wrongful death, traffic, tax, software, social security, securities, personal injury lawyers, patent, nursing home, mesothelioma, medical malpractice, malpractice, litigation, international, insurance, injury, fraud, employment, dwi, dui, divorce, defense, criminal, construction, corporate, compensation, car accident, bankruptcy, auto accident, assault and asbestos lawyers.

How to Become a Lawyer

To become a lawyer you'll have to attend law school via a college or university after your high school studies. There are some online law schools that offer the full Juris Doctor [JD] programs which do not require taking the law school admission test [LSAT]. It is not necessary to quit your job to become a lawyer. There are special JD programs for those students who are interested in working at the same time as pursuing their education in their spare time.

Simply conduct further research online by searching for the keywords of "online law degrees" or "juris degree from home" with quotes around the keywords.

By: Robt Barlow

Article Directory: http://www.articledashboard.com

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1 month ago

Criticism And Self-Criticism: Telling The Truth To the Poor South Africans Is In Their Interest

Telling It Like It Is...

I hated and disliked Apartheid for its use of religious preachings and prattles that I stayed away from religious discourses or whatever, and kept my own beliefs limited to talking with my ancestors on my Mtundu. I have always thought that the Afrikaners were true hypocrites, because they invoked the scripture and Jesus Christ as their pacifier of the oppressed, and committed genocide on their colonized African subjects, and those that survived these killings, were relegated to slave labor camps and Concentration Camps called Townships with their curfews and inhuman living conditions and draconian laws implemented to control and oppress them.

I have alw