Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I was recently advised that by signing an employment settlement agreement, giving up the right to sue the corporation in return for enhanced severence, I could deduct the settlement amount from my income in the year it was taken.

1) Is this true?

I've never heard of it, but that doesn't mean it doesn't exist. See if you can get a Code or other citation.

Phil Marti
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.