January 28th, 2017
TAX TIP OF THE DAY... deduct legal fees
Legal fees are deductible if associated with taxable income:
1) related to taxable LAWSUIT AWARDS
2) related to the determination of taxable ALIMONY
3) related to a DIVORCE involving a business or rental
4) to secure certain DISABILITY benefits
5) related to taxable REAL ESTATE SALES
6) related to EMPLOYMENT
7) to secure UNEMPLOYMENT benefits
8) to secure WORK ACCOMODATIONS for a physically impaired employee
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If you need any help... www.baboiancpa.com
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David S. Baboian, CPA