|
#7
02-15-2005, 06:09 AM
| |||
| |||
 Re: Deductable Legal Fees? Harlan Lunsford wrote: - quote - > Arthur L. Rubin wrote:
Oops.> > Where does it say "mandatory". The term of art is > > "reasonable and necessary". > minor point perhaps, but you mean "ordinary and necessary", > plus must be reasonable. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#6
02-11-2005, 07:24 AM
| |||
| |||
| Re: Deductable Legal Fees? Arthur L. Rubin wrote: - quote - > rick++ wrote:
minor point perhaps, but you mean "ordinary and necessary",> > No. Only mandatory employment expenses above 2% AGI. > > Investigating changing jobs doesnt qualify. > > In a profession where employment contracts are mandatory > > or customary, legal fees might qualify. > Where does it say "mandatory". The term of art is > "reasonable and necessary". plus must be reasonable. ChEAr$, Harlan Lunsford, EA n LA Thu 10 Feb 2005 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#5
02-10-2005, 06:10 AM
| |||
| |||
| Re: Deductable Legal Fees? Arthur L. Rubin wrote: - quote - > rick++ wrote:
Not to mention job "search" expenses. (grin> > No. Only mandatory employment expenses above 2% AGI. > > Investigating changing jobs doesnt qualify. > > In a profession where employment contracts are mandatory > > or customary, legal fees might qualify. > Where does it say "mandatory". The term of art is > "reasonable and necessary". ChEAr$, Harlan Lunsford, EA n LA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#4
02-10-2005, 05:51 AM
| |||
| |||
| Re: Deductable Legal Fees? Arthur L. Rubin wrote: - quote - > rick++ wrote:
I don't know if it applies in this situation, but as I> > No. Only mandatory employment expenses above 2% AGI. > > Investigating changing jobs doesnt qualify. > > In a profession where employment contracts are mandatory > > or customary, legal fees might qualify. > Where does it say "mandatory". The term of art is > "reasonable and necessary". recall some employee expenses can only be written off if the expenditure is both required and not reimbursed by the employer. Stu << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#3
02-09-2005, 04:53 AM
| |||
| |||
| Re: Deductable Legal Fees? rick++ wrote: - quote - > No. Only mandatory employment expenses above 2% AGI.
Where does it say "mandatory". The term of art is> Investigating changing jobs doesnt qualify. > In a profession where employment contracts are mandatory > or customary, legal fees might qualify. "reasonable and necessary". << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#2
02-04-2005, 03:14 AM
| |||
| |||
| Re: Deductable Legal Fees? Yes, but only as a miscellaneous itemized deduction and thus subject to the 2% of AGI minimum floor and the phase-out provisions. See line 20 on Schedule A to Form 1040, and the accompanying instructions. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#1
02-04-2005, 02:55 AM
| |||
| |||
| Re: Deductable Legal Fees? No. Only mandatory employment expenses above 2% AGI. Investigating changing jobs doesnt qualify. In a profession where employment contracts are mandatory or customary, legal fees might qualify. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
02-03-2005, 05:47 PM
| |||
| |||
| Re: Deductable Legal Fees? "Gary" <garynewsmail[at]gmail.com> wrote - quote - > In 2004 I enlisted the services of a lawyer to review an
Possibly, on Schedule A, Line 22 if at all.> employment agreement that I had with my employer, to give > me advice on whether moving on to another job would > violate it. The total fees were around $650. Would this > be deductable on my 2004 taxes? -- Paul A. Thomas, CPA Athens, Georgia taxman at negia.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#-1
02-02-2005, 08:38 PM
| |||
| |||
| Deductable Legal Fees? In 2004 I enlisted the services of a lawyer to review an employment agreement that I had with my employer, to give me advice on whether moving on to another job would violate it. The total fees were around $650. Would this be deductable on my 2004 taxes? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| deductable, fees, legal |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Expense or capitalize legal fees? NOSPAM@joinme.com: In 2004, a cash-basis S-corp sued to collect on a debt. The court awarded judgment for the corp for the amount of the debt plus $x in legal fees. ... | Taxes | 1 | 01-12-2005 09:17 PM | |
| Can HOA fees be made tax deductable? Orange Juice: If you have to pay for Home Owners Association Fees, can this amount be deductible in any way shape or form? I know an area near us, their HOA... | Taxes | 17 | 12-23-2004 03:09 AM | |
| Even MORE on legal fees... Michael T Wing CPA: It looks like the 6th Circuit has just ruled in Banks vs. Commissioner (sorry, I don't have a better cite) that contingent attorney's fees ARE... | Taxes | 12 | 11-21-2003 11:59 PM | |
| More on legal fees... Michael T Wing CPA: I did some channel surfing while visiting relatives over the weekend (they have an extended cable package <g>) and stumbled into a very interesting... | Taxes | 2 | 10-20-2003 12:14 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
