With recent changes to the tax laws and adjustments to what counts as being deductible or not, you might be wondering if you're able to deduct any of your legal fees. Follow our guide to determine which legal fees can and cannot be deducted on your taxes
These taxes only affect those who leave behind a significant amount of money and property upon their death or who make gifts of substantial value during their lifetime. Unless you are in the top 2 percent of the wealthiest Americans, these taxes are not likely to be of concern to you. ...
Rick Stouffer
Estate planning fees weretax deductible, but they no longer are. First,estate planningis the general term that covers arranging one's assets and property for distribution at death to beneficiaries. It includes the creation of legal documents such as trusts and wills, as well as that of directiv...
Understanding the basics of how property taxes are calculated, including how they're paid and whether they're tax-deductible.
public welfare, such as providing sidewalks. Deductible real estate taxes must be levied by a taxing authority charging a uniform rate on assessed values. A corporation can also deduct similar taxes imposed by a state or local government on personal property used in the corporation’s business ...
Social Security taxes aren't deductible unless you're self-employed. Image Credit:rakijung/iStock/Getty Images Whether you work for an employer or you are currently self-employed, you will be tasked with paying Social Security taxes every year. The amount of Social Security taxes you pay depen...
aBequests to Curtis are charitable gifts deductible for federal estate tax purpose. At the state level, these gifts are not subject to estate and inheritance taxes. Bequests to Curtis are charitable gifts deductible for federal estate tax purpose. At the state level, these gifts are not subject...
property or assets from one individual to another without receiving something of equal value in return. The tax applies to the total value of gifts made over a certain threshold in a calendar year and is intended to prevent individuals from avoiding estate taxes by gifting their wealth before ...
The effect would be to subject condominium owners to personal liability for any taxes assessed. Part of the rental payment due the Authority from the taxpayer included a "payment in lieu of taxes" which was "equal to the amount of real property taxes that otherwise would be paid or payable ...