Law Office of Lowell Steiger

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Tax Consequences for Cancellation of Debt Income

What follows is a blog post written by my colleague,David N. Stonehill, Tax and Real Estate Attorney. I’m @HRMargo on twitter. As an HR and Social Media Consultant in his firm, I see sad stories like this every day. Employees are drowning in debt, particularly after the recession of 2009. Below is a case study, and a real story about one of Stonehill’s clients. He has since helped her out of this awful jam, but the fact remains clear. Our tax code has to change. It is my hope that those who read this post will become as outraged as we did. There is… Read More

What’s My Personal Injury Case Worth?

Is my case worth $1 million? $10 million? We’ve all heard the stories. “My friend broke her fingernail and got $150,000.” “My brother-in-law’s friend’s cousin’s son’s wife got $4 million when she fell at the A & P and broke her wrist.” “Bob Hartman got $2.7 million because he was rear-ended by a drunk driver and the drunk’s insurance company was afraid to go to court.”  How are these crash-to-riches cases possible?  Well, in a word, they’re not! Are there multi-million dollar verdicts and settlements? Of course there are but they are based on major injuries, good liability and deep pockets. Click here for… Read More

Firing Your Lawyer (and hiring a new one): Can You Do It?

Note: This story has been fictionalized and all persons appearing in this work are fictitious. Any resemblance to real people, living or dead, places or events is entirely coincidental. What If I Want to Change Lawyers? Dan P. called my office and asked to speak with a lawyer – he got me. We chatted for a few minutes during which time he scratched the surface of his difficult, painful and frustrating story. Mr. P. is a South American immigrant who, along with his wife and other family members, came to this country to raise his family of four. For many… Read More