November 30, 2004
Tax Advice for Bruce Willis
Following up on yesterday's post on the application of §104(a)(2) to the melee involving Ron Artest that broke out at last week's Indiana Pacers - Detroit Pistons NBA game: Actor Bruce Willis has filed a lawsuit against Revolution Studios, contending that he suffered "extreme mental, physical, and emotional pain and suffering" as a result of a special effects mishap while filming the movie Tears of the Sun. Willis claims that he "was required to and did employ physicians and other medical personnel" and will incur additional future medical expenses. Willis' attorneys should heed the lessons of the Dennis Rodman case discussed yesterday and carefully allocate any damage recovery or settlement to ensure that it is received "on account of physical injuries" and thus tax-free within the meaning of §104(a)(2).
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Let's see, whom would I cast to play the role of Bruce Willis at the trial? It's so taxing. Would Arnold be willing to shave his head? Will Hollywood push for tort reform? Will tax lawyers second chair for personal injury lawyers?
Posted by: Shag from Brookline | Nov 30, 2004 6:25:08 AM