When you can only come out on top
(from www.newsoftheweird.com - 09 January 2001)
Man wins payout after he sue's 'himself'
1992 -- Legally, corporations are considered entities separate from their owners, even when only one person owns basically all of the corporation, as in the case of Peter E. Maxwell, employee and 95 percent owner (with his wife) of Hi Life Products of Chino, Calif. Last summer, the U.S. Tax Court ruled Maxwell could keep the $122,000 settlement he won from his firm for negligence when he was injured at work in a 1977 accident. He had hired a lawyer to represent himself as an employee, then hired another lawyer to represent the firm, then worked with the two lawyers to arrange a settlement satisfactory to both Maxwell the corporate owner (which got a tax deduction) and Maxwell the employee (who received his money tax-free). Find other Money articles
Comments
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mark: very good
(19/03/2007)
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JACOB: THATS CRAZY!!!!(10/05/2006)
