Tax
Jul. 7, 1999
IRS Doesn't Play Softball With Hard-Cost Income
By Maier Rosenberg Attorneys routinely incur costs that will eventually be billed to the client. Most lawyers conclude that those costs should be expensed, making them tax-deductible. When the money is collected, attorneys generally treat it as income, consistent with the cash basis of accounting and tax reporting.
By Maier Rosenberg
Attorneys routinely incur costs that will eventually be billed to the client. Most lawyers conclude that those costs should be expensed, making them tax-deductible. When the money is collected, attorneys generally treat it as income, consistent with the cash basis of accounting and tax reporting.
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Attorneys routinely incur costs that will eventually be billed to the client. Most lawyers conclude that those costs should be expensed, making them tax-deductible. When the money is collected, attorneys generally treat it as income, consistent with the cash basis of accounting and tax reporting.
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