What will it cost?
- A) We understand that in the final result, hiring any tax lawyer needs to make sense, financially and emotionally. More than money is often involved, but money is always involved. In our view, if you need to hire a tax lawyer, it makes sense to hire the best you can afford.
- B) We understandd that purchasing tax legal services is expensive, and that it may be a challenge for our clients to find the money. But we also know that not purchasing tax legal services can be much more expensive. We try to be reasonable in our fee arrangements and payment plans.
- C) In most instances, legal fees paid to our firm for corporate clients and unincorporated business clients are deductible from their business or property income under generally accepted accounting rules.
- D) For most individual clients, without business or property income, legal fees paid to our firm are deductible from any source of income, if the work is incurred to object to an assessment or to appeal from an assessment or reassessment, or to deal with CRA auditors during an audit or review.
- E) To calculate the “tax credit” associated with tax deductible legal fees, multiply the fees paid in the year by the tax rate applicable to the person paying the fees, ie: the corporation, unincorporated business or the individual.
- F) The “net” cost of tax legal fees is the amount paid to our firm less the “tax credit” receivable in the year of payment.
- G) For more details on hourly, fixed rate and “results based” fee arrangements, see FEES.