Don't let confusion over legal expense allowances cost you
You probably spend a fortune on legal fees every year. And I bet you're not deducting them. Use this checklist to make sure you're deducting all the legal fees you can, giving you more money at the end of the tax year. Let's have a look at the checklist to see if you're deducting your legal expenses.
+++ How Greg got R22 400 back from SARS for his company's bad debt
Greg got R22 400 from SARS for his company's bad debt...
Discover how he did it so you can do the same. Plus discover 46 other ways to get money back from SARS now
Checklist for legal expenses
There're some legal expenses you incurred in the course or by reason of ordinary operations you can deduct. Use this checklist to make sure you never leave a legal expense out.
Have you incurred the following:
+++How your tax consultant could end up costing you R1.2 million
Expenses for the services of legal practitioners?
Expenses in procuring evidence or expert advice?
Any court fees?
Witness fees and expenses?
Fees and expenses of sheriffs or messengers of the court?
Relying on your accountant or tax
consultant to do your taxes correctly could end up costing you thousands of rands… even R1 270 150.
If you know your rights and what you should be checking every month you can prevent this situation from happening to you. Click here
to make sure it never happens to you
If you answered yes to the above questions then you can deduct the expenses. These are just five of the legal expenses you can deduct. There are another seven.
But, it doesn't end here. These 12 are just the tip of the iceberg when it comes to deductions. Do you know all of the others?
Neither did 7 743 other people. Click here to see which ones they missed out on
Until next time
Managing Editor: Practical Tax Loose Leaf Service
Ps. Does your company suffer from bad debt? It no longer has to...
Today, you'll discover how to get SARS to pay you back for 28% of your company's bad debt!
Find out how now.