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Are legal fees taxable?
- Thread starter gkmhan
- Start date
Legal fees are expenses
Generally all legal fees are expenses that a company incurs to keep it a going concern. Expenses are not taxed but at the end of the fiscal year if there is any gross income it is taxed at the corporate rate to arrive at the net income. Most probably your company is fudging information from you.
Generally all legal fees are expenses that a company incurs to keep it a going concern. Expenses are not taxed but at the end of the fiscal year if there is any gross income it is taxed at the corporate rate to arrive at the net income. Most probably your company is fudging information from you.
you need an attorney for labor relations or your union
for the company to pass on its costs of doing business (legal fees) and call it your "income" is probably a violation of labor laws. you need to consult your union representative or an attorney experienced in labor issues, not this forum.
for the company to pass on its costs of doing business (legal fees) and call it your "income" is probably a violation of labor laws. you need to consult your union representative or an attorney experienced in labor issues, not this forum.