Does anyon know if you can deduct fees from an elderlaw attorney regarding advice, DPOAs, consultations when LO is admitted involunatrily to psych hospital? I will be contacting our CPA but wanted to know in advance if anyne has been successful in claiming these expenses.
GREAT ?. I have paid a fairly large sum last year and meet again next week again. It would be wonderful if we could deduct it so probably not..it would be too good to be true!
No you can't. There are very few legal fees that can be deducted. Generally only legal fees for generating money can be deducted. There are a few exceptions like tax situations, estate taxes, etc, but for the most part if it was not used to generate income, you can't deduct. If you hired an attorney to help you get SSDI, that fee may be deductible.
We had our wills, DPA, Health directives etc.. done a few years ago from a prominent estate attorney. About 1/3 of the cost was for "tax advice". Our attorney said that we could deduct these expenses on our return, and our tax preparer agreed. The deduction was under misc. expenses and had to be above 2% of our adjusted gross income. I'd advise checking with your attorney.