Are your fees tax deductible?
Yes, with certain limitations.
Section 212 of the Internal Revenue Code permits an itemized deduction for tax and/or investment advice in the miscellaneous section of Schedule A. All combined miscellaneous fees must be greater than 2% of your adjusted gross income in order to be deductible.
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Tom was quoted in the SmartMoney series Retire Here, Not There: Florida.Sarasota was one of communities chosen to be highlighted for the article. Sarasota was noted for its high concentration of cultural attractions, beaches and lower cost of living. Read the article here. |