Settlement Services - Tax
Tax Strategy
Tax-Advantaged and Tax-Free Income Planning
While our team does not offer tax advice, we review your overall tax situation and make recommendations for how to optimize your needs for income and growth while considering the impact of non-covered medical deductions and potential taxes such as income tax, capital gains tax, kiddie tax, or net investment income tax.
Non-Qualified Planning
Some settlements are not qualified for income tax exclusion under the Internal Revenue Code, such as employment litigation, contract disputes, and punitive damages. Fortunately, these can still be structured into settlement annuities, which may not have income tax inclusion but are still tax-deferred, with the pre-tax funds earning interest. Mirena’s team can help you set up these periodic payments, which can give you a stable source of long-term income.
