Give Yourself a Break with Tax Deductions

When tax season comes around, many people are looking for any way possible to get some personal deductions whether that entails business, educational, or deducting legal fees. The problem is that, when it comes to personal expenses, there are a lot of restrictions and unsuccessful claims that do not get deducted. Deducting legal fees, however, […]

Qualifying for a Legal Fees Tax Deduction

People who have had to hire an attorney during the course of the year may be entitled to a tax refund. The IRS allows people to deduct legal fees when filing for taxes. These deductions can often help reduce the amount of money you owe to the IRS or help you receive some money back […]

How To Claim a Tax Deduction for Legal Fees

If you are going through a court case, you understand just how aggravating legal fees are. It is not unusual for anyone to pay tens of thousands of dollars in legal fees, sometimes out of pocket. Even if your insurance covers a portion of the legal fees, you are still stuck with paying a portion. […]

The rules of legal fee deductions

Having to pay legal fees is never anyone’s idea of a great time. But having the option of deducting them is a lot less painful. For example, a 40 percent tax rate equals about $10,000 in legal fees. But the deductibility of legal fees means it will only cost about $6,000. However, one should be […]

Deducting legal fees can save big on taxes

With April fast approaching, many people have a growing fear of doing their taxes and the money they are going to end up owing the government. But amidst the turmoil of unearned incomes and possible write offs, there are at least one sort of deduction that is guaranteed, and those are tax deductible legal fees. […]

You Are Missing Out on a Tax Deduction

Tax Day is rapidly approaching and we are all scrambling through our files and receipts looking for tax deductions. You know you will have tax deductions for home improvements. You know you will have tax deductions for charitable donations. But maybe you do not know that you could also get a tax deduction for legal […]