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Yes, in most cases, attorney fees are considered taxable income and must be reported on your tax return.

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5mo ago

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Can I claim attorney fees on my taxes?

In general, you cannot claim attorney fees on your taxes unless they are related to certain types of income, like business or rental property. It's best to consult with a tax professional for specific advice on your situation.


Do you need to pay state sales taxes when you buy a house as in the case when one buys a new car from a dealership?

AnswerYes, there are taxes involved in the sale and transferral of real estate. These tax are often in different form from sales tax. Handled at closing, these taxes, called "doc stamps" are part of the real estate transaction. There are other taxes, like impact fees. All of these fees should be listed on the real estate settlement sheet and explained by an attorney or a title agency, at closing.


What are some examples of a closing cost?

Closing costs are paid at the finalization of a real estate deal, and can include attorney fees, title service costs, recording fees, document or transaction stamps or taxes, survey fees, brokerage commissions, mortgage application fees, appraisal and inspection fees, and home warranties.


Can you cash in your annuity?

Yes you can. You will most likely pay a variety of fees and taxes depending on your age and how long you have been collecting on the annuity. There are applicable surrender fees, but you can cash it out if you want to.


What are the typical closing costs involved with the home sales?

Some typical closing costs are title policies, an escrow, a notary, wire fees, courier/delivery, attorney fees, endorsements, rcording, transfer taxes, home protection plans, natural hazard disclosures, home inspection, lender fees, fire insurance, flood insurance, property taxes, mortgage and interest.

Related Questions

Do you pay taxes on executor fees if you are also an heir?

You will pay income taxes on all income, including fees your earned. You would not pay inheritance tax on that amount. It would be a good idea to consult a probate attorney in your state.


Does the executor of an estate pay attorney fees out of their compensation?

They do not pay the estate attorney's fees, the estate does. If they hire their own attorney, yes, they have to pay them.


Do plaintiff's usually get the defend to pay their attorney fees?

No. Attorney's fees are only awarded in certain cases.


Can your attorney hold you responsible for fees if the court ordered your ex husband to pay your fees?

yes


Can I claim attorney fees on my taxes?

In general, you cannot claim attorney fees on your taxes unless they are related to certain types of income, like business or rental property. It's best to consult with a tax professional for specific advice on your situation.


How does the government pay for the services it provides?

With taxes and fees paid by people.


Can you drop your civil suit even if your lawyer disagrees?

You get to make the decision, not the attorney. You are going to have to pay the fees to the attorney.


How do you use net pay in a sentence?

If you take gross pay and take out taxes and fees you are left with net pay.


Can i have my husband pay for me an attorney since he was the one who filled?

Your counter-suit can include a clause that requires him to pay your attorneys fees AFTER the case has been concluded. However, during the proceedings he cannot engage an attorney for you and pay his fees due to the conflict of interest that it causes.


Will any lawyer fees come out of the child's back pay?

Attorney fees should be included in the terms of the lawsuit judgment.


Is a spouse required to pay temporary attorney's fees in a divorce?

In my case, no, in the state of Missouri.


What are the sources of local revenue?

Most local governments get their revenues from either taxes or fees. Taxes are paid by almost everyone. There are municipal taxes, property taxes, Business Taxes. As for fees, there are a number of them, but many only apply to a specific group of people (hunters pay to get a hunting license, for example; couples who want to marry pay to get a marriage license).