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.
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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:
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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.
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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
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