Opportunities for Deduction of Legal Expenses
Journal of Financial Service Professionals
Individuals incur legal expenses in many business and personal transactions. Legal expenses may be legitimate tax deductions or nondeductible personal expenses. Legal expenses are nondeductible when incurred for issues that are personal in nature such as divorce or bankruptcy. A deduction is available for legal expenses that are incurred for business or investment reasons. This article provides a framework to assist financial advisors in identifying deductible legal expenses.
Tax deductions costs, Investment advisors, divorce, personal bankruptcy
Schloemer, Paul G., "Opportunities for Deduction of Legal Expenses" (2016). Business Administration Faculty Publications. 97.