Disability Law

Maximizing the Medical Expense Deduction

By Patrick Hindert

Jeremy Babener, author of previous articles on structured settlement taxation, has published Taking Medical Expense Deductions Before and After a Personal Injury Suit in the August issue of Practical Tax Strategies. The article is available at his web site, www.taxstructuring.com. Babener's writing is also featured on S2KM's structured settlement public policy wiki.

Babener's newest article provides plaintiff and defense advisors with the necessary tax law knowledge to maximize the medical expense deduction at every stage of a personal injury lawsuit. The IRS and case law are not always in agreement, but there are basic steps advisors can take to save clients money and possibly bridge the gap between a defendant?s offer and plaintiff?s needs.

Babener has been named a 2010-11 NYU Tax Policy Fellow. In that role, he will work at the U.S. Department of the Treasury?s Office of Tax Policy this Fall, and receive his LL.M. in Taxation from NYU School of Law in the Spring.

Babener will be publishing a follow-up article in Practical Tax Strategies in September detailing how to take advantage of the medical care exception to the tax on emotional distress damages.

Full post as published by Beyond Structured Settlements on August 30, 2010 (boomark / email).