Tax Rules Regarding Legal and Professional Fees

Tax Rules Regarding Legal and Professional Fees by Susan Moussi

{3:35 minutes to read} Tax rules regarding legal and professional fees can be complex and sometimes disappointing.

Complex since there are certain legal and professional fees for which you can get an immediate tax write-off. In other cases, you can add these expenses to the cost of the relevant item and write it off over a longer period of time. Disappointing because some aren’t deductible at all, and oftentimes they are only beneficial as a deduction when they exceed 2% of your adjusted gross income. Here’s what you should know:

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Divorce and Social Security: What You Need to Know!

Divorce and Social Security: What You Need to Know! by Susan Moussi

{4:00 minutes to read} Social Security benefits are in a constant state of flux; eligibilities and rules are always changing, and the rules are complex. Fortunately, there are professionals who specialize in Social Security benefits exclusively and maintain knowledge of the changes and eligibility requirements. I provide my clients with information through this ever-shifting landscape, but if their situation is out of the ordinary I will refer my clients to a specialist.

In this article, I will share with you some of the information I routinely share with my clients.

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Paying or Receiving Spousal Support? Here’s What You Need to Know!

Paying or Receiving Spousal Support? Here’s What You Need to Know! by Susan Moussi

{4:00 minutes to read} Alimony is also known as spousal support. In Ohio, the laws that refer to spousal support are defined as payments made from one spouse to a former or current spouse. It is important to note that the Internal Revenue Service (IRS) uses the term alimony instead. The rest of this article will use the term spousal support.

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