Bank deposit analysis and deductibility of legal fees

Client present firm with an IRS audit reviewing gross income and disallowing the legal fees related to a civil case (accident) he had deducted as a business expense.   We were able to convince the IRS that the almost $18,000 in legal fees qualified as a business expense despite the facts surrounding the expense falling into a grey area.   Further, we were able to demonstrate that the client had no unreported income by providing a through bank deposit analysis. 

The results portrayed in the cases mentioned above were dependent on the facts of that particular case, and the results may differ if based on different facts. The case study and/or success stories shared herein are for informational purposes only. It is not intended to and does not constitute legal advice. For more information please call 1‑888‑TAX-DEAL or (415) 394-7200 or complete our contact form.

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