Virginia is not a community property state for tax purposes, unlike nine other U.S. states that have adopted community property laws such as California, Texas, and Arizona. This means that, for married couples filing taxes in Virginia, property and income are not automatically shared equally between...
When it comes to settling legal disputes, whether through negotiation or a courtroom battle, one major question frequently arises: Are attorney fees tax deductible in a settlement? The intricacies of tax law make this a complicated issue, influenced by various factors including the nature of the set...
The Surprising Tax Deductibility of Settlement Attorney FeesIf you've ever had to navigate a legal settlement, one of the first questions you may ask is: Are attorney fees tax deductible? It's a nuanced issue, and the answer isn't always straightforward. In many cases, attorney fees tied to settleme...
