5 Ways To Deduct Legal Fees From Your Taxes
Consulting an attorney can be costly, but you may be able to recoup some of those costs by deducting legal fees from your small-business taxes. The Internal Revenue Service code does not specifically list legal fees as a deductible item. However, the tax code may allow you to deduct legal fees as an ordinary business expense, depending on how you used the legal services that you paid for. Here are five common legal services for which you can generally deduct legal fees as a business expense:...