Are Investment Management Fees Tax Deductible?

Taxes are due April 15, which means it’s time to start gathering your W2s, 1099s, child care receipts and bank statements.

The wisdom of Tax Dad

Legend has it that an exotic dancer was once allowed to deduct the cost of ‘enhancements’ as a business expense. That one may just be a popular tax-geek myth — but there are plenty of verified, documented cases of weird and wonderful tax deductions our fellow Americans have attempted to claim.

Americans are known to bristle come April 15, but nearly 240 years after the founders threw a Boston Tea Party to protest unfair taxes, citizens are using less dramatic – but no less creative – ways to test the tax code. Modern-day challenges often end in U.S. Tax Court, where citizens can go to take on the Internal Revenue Service.

No one likes mounting legal bills. Tax deductions can help, but deductible how? See The Only Good Legal Fees Are Tax Deductible Legal Fees. One of the nettlesome tax issues relating to legal fees is the nature of the deduction taxpayers receive. An individual who can only deduct legal fees as a miscellaneous itemized deduction ...

OTTAWA — Conservative Sen. Mike Duffy submitted expense claims while Parliament was dissolved during the last federal election, reporting he was on Senate business on days he appeared to be campaigning for the party. The full extent of Duffy’s Senate expenses during the writ period remains a mystery — the Conservative government is refusing to reveal the full breakdown of the senator’s claims and his repayment of $90,172.24.

U.S. News & World Report - The thousands of pages in the U.S. tax code get more confusing each year, but the big question on most Americans' minds remains very simple: How can I reduce my taxable income? With tax season is in full swing, make tax deductions and tax credits your best friends for the next few months. Many people probably don't realize how many expenses are tax deductible, and don't want to spend hundreds of dollars hiring a CPA to figure it out.

According to the IRS, filing your taxes by mail can mean waiting six to eight weeks for your refund from the date the return was received. But these days there’s a faster way: using tax apps to e-file from your smartphone. Of all ways to file, using a tax app might be the fastest and easiest.