I won a lawsuit against my former employer. Are my attorney fees tax deductable ?
Thursday, February 4th, 2010 at
8:06 am
My former employer would admit no wrong doing Cialis Online but did agree to settle with me for $ 35,000. My attorney fees were $ 15,000.
THey should be…. as a tax person, they will know for sure…. If your employer was responsible to pay your legal fees then I don;t think they will be…if they came out of your settlement, then they should
Only if the settlement is taxable, such as for back wages, lost wages, etc. In that case they were for the production or collection of taxable income so they would be deductible.
If the settlement isn’t taxable, such as for a physical injury or illness, then the attorney’s fees are not deductible.
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