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12 Ways to Deduct Legal Fees Under New Tax Laws - 10/17/19
www.woodllp.comIf all the legal fees are pa id in the same tax year as the recovery (such as in a typical contingent fee case), that limit causes no problem. But what if the plaintiff has been paying legal fees hourly over Robert W. Wood practices law with Wood LLP (www. WoodLLP.com) and is the author of Taxation of Damage Awards and Settlement Payments and
Lawsuits, Awards, and Settlements Audit Techniques …
www.irs.gov4 Verify that for a non-corporate taxpayer, legal fees deducted as a Schedule A miscellaneous itemized deduction are not allowed for purposes of computing the