Thread: SCORE!
View Single Post
  #27   Report Post  
Posted to rec.crafts.metalworking
Ignoramus11847 Ignoramus11847 is offline
external usenet poster
 
Posts: 23
Default $50K/year RE Taxes (was SCORE!)

On 2012-05-07, Joseph Gwinn wrote:
In article ,
Ignoramus11847 wrote:
Of course, I had to pay 1/3 of the first year's reduction to the
lawyers that I retained.


This may be the key. Bob may have been unwilling to hire a mean-enough
lawyer: 49000/3= $16,333. It sounds like a lot of money, but was repaid
in the first year. But, this should not have been necessary.


By the way, this math does not quite work like this.

1. The fee is 1/3 of the first year's reduction, in this case,

1/3 * (49000-21000).

This is about 9k in my case, which is the amount on the check that I
mailed yesterday.

2. The fee is contingent upon reduction, you owe lawyers nothing
unless they reduce taxes.

So, in other words, there is not much risk in retaining a lawyer.

i