Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in an s corp, what legal fees are deductible? can

in an S corp, what legal fees are deductible? can you deduct legal fees for...

70.2K

Verified Solution

Question

Accounting

in an S corp, what legal fees are deductible? can you deduct legal fees for a lawsuit like a case settlement? can you deduct legal fees if it was a sexual harassment?
company had 30k income from lawsuit and 10k legal expenses. can they deduct the 10k?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Central Tendency A radio station claims that the amount of advertising per hour of broadcast...

Statistics
Q

Callaghan Motor’s bonds have 7 years remaining to maturity. Interest is paid annually, the bonds have...

Finance
Q

Your friend tests her snake-wrangling skills on an eastern diamondback rattlesnake and is bitten and injected...

Medical Sciences
Q

Write multiple if statements: If carYear is before 1968, print \"Probably has few safety features.\" (without...

Programming
Q

JBeats produce and sell a product that has variable costs of $33 and a selling price...

Accounting
Q

Flowering time is determined by genes in mustard plants The graph shows how long it...

Biology
Q

particle is performing simple hormonic motion on straight line with time period T The minimum...

Physics
Q

7 5 3 9 3 8 10 5 5 4 7 9 18 4 2

Geometry
Q

then that a well known result from geometry states sum of the lengths of the...

Algebra
Q

A firm has a (net profit / pretax profit ratio) of 0.625, a leverage ratio...

Accounting
Q

The Regal Cycle Company manufactures three types of bicycles-a dirt bike, a mountain bike, and...

Accounting
Q

The contribution format income statement for Huerra Company for last year is given below: Total...

Accounting