A loophole that prevented victims of sexual harassment who receive settlements from companies or individuals that victimized them from deducting their legal fees on their taxes has been closed, according to Robert W. Wood, a tax expert and contributor to Forbes. The so-called Weinstein tax law passed December 2017 prohibits individuals and companies that paid hush money settlements in sexual harassment cases from deducting those payments from their taxes. But it also prohibited those who received sexual harassment settlement payments from deducting their legal fees as well. For example, if a person received a $500,000 settlement and her lawyer got ... Read More
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