Legal Fees and Tax Deductions
California Tax Lawyer, Vol. 19, No. 1, p. 31, Winter 2010
3 Pages Posted: 7 Apr 2010
There are 2 versions of this paper
Legal Fees and Tax Deductions
California Tax Lawyer, Vol. 19, No. 1, 2010
Number of pages: 3
Posted: 06 May 2010
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Date Written: Winter 2010
Abstract
It is unreasonable to expect a law firm’s clients to enjoy paying legal fees as much as their lawyers enjoy receiving them. Yet in my experience, clients are much more likely not to object to paying legal fees if they can deduct them. After all, if you pay a deductible legal fee and are in a 40 percent (state and federal) tax bracket, you really are paying only 60 percent of the legal fees. The rest is paid by the government. This is so obvious it seems silly to say it.
Suggested Citation: Suggested Citation
Wood, Robert W., Legal Fees and Tax Deductions (Winter 2010). California Tax Lawyer, Vol. 19, No. 1, p. 31, Winter 2010, Available at SSRN: https://ssrn.com/abstract=1586059 or http://dx.doi.org/10.2139/ssrn.1586059
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