3,009
edits
Difference between revisions of "Tax Implications of Support Payments"
From Clicklaw Wikibooks
Tax Implications of Support Payments (view source)
Revision as of 21:03, 20 November 2014
, 21:03, 20 November 2014no edit summary
Dial-A-Law (talk | contribs) |
Dial-A-Law (talk | contribs) |
||
| Line 50: | Line 50: | ||
==Some legal fees and expenses are tax deductible== | ==Some legal fees and expenses are tax deductible== | ||
The cost of obtaining or enforcing a spousal support or child support order, including an order for the payment of arrears, is deductible for the person receiving support. The cost of defending a claim for support or for the payment of arrears of support is not deductible. | The cost of obtaining or enforcing a spousal support or child support order, including an order for the payment of arrears, is deductible for the person receiving support. The cost of defending a claim for support or for the payment of arrears of support is ''not'' deductible. | ||
To claim the deduction for your lawyer’s fees, you must show how much of your lawyer’s bill went to the support claim. While it’s possible to ask your lawyer for a letter estimating how much of their time went to the support claim, it’s usually easiest for the lawyer to keep track of their time from the beginning. If you want to claim this deduction, make sure you tell your lawyer right from the outset. | To claim the deduction for your lawyer’s fees, you must show how much of your lawyer’s bill went to the support claim. While it’s possible to ask your lawyer for a letter estimating how much of their time went to the support claim, it’s usually easiest for the lawyer to keep track of their time from the beginning. If you want to claim this deduction, make sure you tell your lawyer right from the outset. | ||
Additional information about the deduction of lawyer’s fees is available from the Canada Revenue Agency at [http://www.cra-arc.gc.ca www.cra-arc.gc.ca]. Search for “Line 232 Legal fees”. | Additional information about the [http://http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206-236/232/lgl-eng.html deduction of lawyer’s fees] is available from the Canada Revenue Agency at [http://www.cra-arc.gc.ca www.cra-arc.gc.ca]. Search for “Line 232 Legal fees”. | ||
