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The economic impact of a settlement or damages award depends on whether it’s taxable to the plaintiff and deductible by the defendant. A tax-free $1 million judgment, for example, is substantially more valuable to a plaintiff than one that comes with a $400,000 tax bill. And from...

How assets are split up in a divorce can have significant tax consequences, especially when the marital estate includes a private business interest. Valuation is just part of the picture. Equitable distributions require the parties to premeditate tax issues, too. What’s at stake?...