Discussion:Tax prepration fees

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Discussion Forum Index --> Advanced Tax Questions --> Tax prepration fees
Discussion Forum Index --> Tax Questions --> Tax prepration fees

Yvette (talk|edits) said:

28 February 2008
I have seen tax preparation fees deducted either in the current year for previous year's fees, 2006 fees deducted in 2007 return or 2007 fees deducted in 2007 return. Is that okay, for both individual an business returns?

Thanks for clarification,

Yvette

TheTinCook (talk|edits) said:

28 February 2008
Think about it...

You usually pay and incur the tax preperation costs in the year following the tax year. Under both the cash and accrual rules, that would be the proper year to report the deduction. Unless, you have a time machine...

JR1 (talk|edits) said:

February 28, 2008
For cash, when paid. For accrual, when billed.

D'Nero (talk|edits) said:

28 February 2008
"Unless, you have a time machine... "

I know a guy who owned a DeLorean, nothing happened when you hit 88 mph.

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